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., This news data comes from:http://udkcp.gangzhifhm.com
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.
- Xi and Putin's hot mic moment: How long will science extend the human life span?
- SpaceX cancels Starship megarocket launch
- North Korea's Kim Jong Un travels to Beijing to watch military parade alongside Putin, Xi Jinping
- 'I have no resentment,' says Torre after dismissal as PNP chief
- Indonesia, US and allies launch joint military drills
- Preliminary report on Lisbon funicular accident expected
- Cebu Pacific to launch direct flights between Cebu and Palawan
- Pump prices go up
- PH Construction Board asked to address 'accreditation for sale' scandal
- PH, Japan conduct search and rescue exercises
