SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
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., This news data comes from:http://www.erlvyiwan.com
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.
Go files housing development bill
- No peace without end to hostilities –Arab bloc
- Trump plans a hefty tax on imported drugs, risking higher prices and shortages
- Pope Leo: We must listen first before speaking
- Japanese volunteers to PH 'bedrock' of bilateral relations, says envoy
- Modi reaffirms India's support for Ukraine peace settlement during call with Zelenskyy
- PH eyes global partners in biggest railway project
- 15 drug war victims cleared to join Duterte's ICC case
- Marcos inspects rock shed project in Benguet
- NHA gives cash aid to families affected by calamity in Manila
- Navotas inks deal for school feeding project
