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, This news data comes from:http://dp-ari-affo-dgk.gangzhifhm.com
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.”
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.
- MMDA readies for FIVB men’s volleyball
- Modi: India, Japan to 'shape the Asian century'
- Firefighters arrested by US immigration officials
- Indonesia leader orders investigation into driver's protest death
- IBP forms committee on good governance to probe corruption
- Israel ups pressure on Gaza City as Trump talks post-war plan
- Israel army urges Gaza City residents to leave
- Sara’s claims that corruption probe could be done in one day 'absolutely preposterous' – Palace
- Robinsons to build 9-story office building in Davao City
- Philippine experts urge harm reduction strategy for tobacco control
