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.”, This news data comes from:http://nbqkmx.yamato-syokunin.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.
Go files housing development bill
- House bill seeks to regulate AI use
- Gaza at 'breaking point,' says UN food agency chief after visit
- Batangas engineer suspended after alleged bribery attempt on congressman Leviste
- Nepali court: Hindu holy men's nudity not obscene
- Public Works Chief Vince Dizon demands courtesy resignations to 'clean house'
- DOJ issues lookout order vs Atong Ang, others over missing cockfighters
- Angkas supports DICT's amnesty program for unregistered delivery services
- Epstein victims compiling list of sexual abusers
- DOJ indicts Abra Mining for fraudulent trading
- Philippines presses call for ceasefire in Gaza
