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://ngm-jng-oof-ro.705-888.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.
- House bill seeks to regulate AI use
- Marcos to youth: Help in nation-building
- Thailand ruling party moves to dissolve parliament
- Discaya companies' licenses revoked for bid-rigging
- A suicide bombing near a political rally in southwestern Pakistan kills 13 and wounds 30
- Pump prices go up
- Marcos Jr. seeks 'fair, impartial' Ombudsman - Palace
- Hope dwindles for survivors days after deadly Afghan quake
- 25,000 Filipinos register for Pag-IBIG's Expanded 4PH Housing Program
- Need to pee? Japan has QR code for that
