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://qut-rms-ihpv-ei.ycyzqzxyh.com
”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.
- Remulla pledges transparency and impartiality as Ombudsman
- 25 countries suspend postal services to US over tariffs – UN
- Japan PM Ishiba bounces back in polls after election debacle
- 'New' position being offered to Torre — Palace
- Preliminary report on Lisbon funicular accident expected
- Trump rebrands Department of Defense as 'Department of War'
- US appeals court blocks Trump's use of wartime law for deportations
- Wildfire tears through California gold rush town
- Van Gogh Museum 'could close' without more help from Dutch govt
- Pangilinan urges Marcos Jr. to prioritize bill aiding farmers, fishermen
