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., This news data comes from:http://kpdt-ij-jve-ipd.erlvyiwan.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.
- Tensions soar in Indonesia as protests over police brutality and lawmakers' allowances continue
- Govt monitoring Chinese ‘sleeper agents’ in PH
- Epstein victims compiling list of sexual abusers
- OVP ready to submit to lifestyle check if ordered, no word from Sara
- Modi and Putin affirm special relationship as India faces steep US tariffs over Russian oil imports
- Supreme Court censures Marikina judge over parking dispute with PAO lawyer
- Customs finds only 2 luxury cars at contractor's compound in Pasig
- Thailand set for vote on new PM after dissolution bid rejected
- Suspect in 2012 killing of Dutch aid worker freed
- BuCor chief calls for major reforms
