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.
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://www.ycyzqzxyh.com
Go files housing development bill
”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.
- Napolcom welcomes Nartatez’s move to recall Torre’s reassignments
- Trump health misinformation swirls despite denial
- PH, Australia commend ‘impressive’ joint sea drills
- Some National Guard units in Washington are now carrying firearms in escalation of Trump deployment
- Sen. Hontiveros pushes for Philippine Geriatric Center to aid seniors
- 'Pink and green' protests call for a reset in Indonesia
- PH, Japan conduct search and rescue exercises
- Motive probed for US shooting that killed two children, injured 17
- Lacson to govt: Protect education budget
- Marcos names acting Ombudsman
