SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go files housing development bill
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., This news data comes from:http://xxstckcm.jyxingfa.com
Go files housing development bill
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.”
”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 justice panel to probe US' extradition request for Quiboloy
- US senators to reinforce 'partnership' with Taiwan
- Tax bureau hunts down contractors over questionable flood control deals
- Filipino member of AHOP K-pop group says Manila concert a dream come true
- Gasoline, diesel price hikes seen next week
- Kris Aquino is alive, says friend amid reports of death
- ‘New NBI chief must be career official’
- Robinsons to build 9-story office building in Davao City
- Humanoid robots showcase skills at Ancient Olympia. But they're on a long road to catch up to AI
- President Marcos to attend 80th UN General Assembly in New York
