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.”
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., This news data comes from:http://kwgijdd.ycyzqzxyh.com
- Philippines nears universal healthcare, 80% goal achieved -- Marcos
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- Epstein victims compiling list of sexual abusers
- Tourists dice with danger on Hanoi's train street
- Sotto files bill to amend party-list system
- NATO members to reach 2% defense spending goal this year
- Thousands protest in Nepal over social media ban, corruption
- DOJ issues lookout order vs Atong Ang, others over missing cockfighters
- Lacson replaces Marcoleta as Blue Ribbon panel chairman
- Remulla pledges transparency and impartiality as Ombudsman
