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., This news data comes from:http://ak-cb-px-ob.771bg.com
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.”
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.
Go files housing development bill
- Indonesia's delayed new capital risks 'white elephant' status
- Over 800 killed as quake rocks Afghanistan
- Japan PM Ishiba bounces back in polls after election debacle
- Peace efforts in limbo as Kyiv mourns 23 dead
- Putin facing mounting pressure from the West
- Angkas supports DICT's amnesty program for unregistered delivery services
- Taiwan: China illegally deploying oil rigs in our waters
- Marcos opens WorldSkills Asean competition
- 40% of Filipinos are now obese, says Health expert
- May 12 poll results accurate, credible - OCTA Research
