SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://www.705-888.com
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.
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.
- Manila Water announces service disruption for over 12K households in Mandaluyong due to leak repair
- Sen. Go files bills to push health, social, and labor reforms
- 'Strangest' dinosaur covered in spiked armory — Scientists
- Philippine forces deliver supplies and personnel to disputed South China Sea shoal despite tensions
- Filipino member of AHOP K-pop group says Manila concert a dream come true
- Group presses DA on delayed fertilizer subsidies
- North Korea's Kim in China ahead of massive military parade
- Israel city honors Quezon’s wartime rescue of Jews
- China 'unstoppable', says Xi with Kim, Putin at his side
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
