SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go said the measure aims to meet the country’s growing social housing demands, particularly among underprivileged and homeless citizens.
Go files housing development bill
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation.
The accompanying explanatory statement said the measure “allows local governments to levy a half-percent socialized housing tax on urban land values, with proceeds dedicated to socialized housing and public rental projects.”, This news data comes from:http://mrrkw.052298.com
”In addition, the bill introduces securitization mechanisms to raise more housing funds through bonds and securities exempted from usual taxes and registration requirements. Private developers will also be incentivized to participate in socialized and low-cost housing projects, with such participation counted toward compliance with balanced housing laws,” it added.
- An AI simulation of a Mount Fuji eruption is being used to prepare Tokyo for the worst
- Petitioners challenge claim NAIA fees lowest in Southeast Asia
- Customs preparing report on Discayas’ 28 luxury cars
- Marcos to mark ‘Thrilla In Manila’ 50th anniversary
- UN food agency chief says women and children are starving in Gaza and pressed Netanyahu on aid
- Indonesia protests put spotlight on paramilitary police force
- Indonesia leader orders investigation into driver's protest death
- Palestinian Embassy echoes PH appeal for ceasefire in Gaza
- Thailand set for vote on new PM after dissolution bid rejected
- Washington makes military aid overtures to Sahel juntas
