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., This news data comes from:http://yk-sodg-kdk-xq.jyxingfa.com
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.”
”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.
- UN watchdog finds uranium traces at suspected Syrian former nuclear site
- Philippine experts urge harm reduction strategy for tobacco control
- Choose Ombudsman with integrity, intelligence, insight – Cayetano
- AboitizPower pushes growth with clean, renewable energy
- Pump prices increase for 2nd straight week
- SpaceX scrubs latest Starship launch due to bad weather
- Modi, Ishiba agree to boost economic ties
- Marcos to mark ‘Thrilla In Manila’ 50th anniversary
- China criticizes Canadian, Australian warships transiting Taiwan Strait
- House resolution filed to investigate 'funders' of anomalous projects
