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.
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.”, This news data comes from:http://dgau.aichuwei.com
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.
- Australia to tackle deepfake nudes, online stalking
- Portugal mourns after Lisbon streetcar accident kills 15
- Rep. Tiangco reveals P17B flood control allocations linked to former appropriations chairman Rep. Zaldy Co
- House holds budget review with 21 civil society organizations
- Alex Eala targets US Open Round of 32 in rematch against Spanish rival
- Two foreigners face trafficking complaint in Pasay City
- Zelenskyy meets European leaders on Ukraine security guarantees
- President Marcos to attend 80th UN General Assembly in New York
- Maryland resident is diagnosed with New World screwworm. What to know about the parasite
- Cusi charged over Malampaya deal
