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.
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://ewiuf.yamato-syokunin.com
”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
- Sen. Pangilinan Advocates for Credit-Worthy Farmers to Boost Agriculture Sector
- Planning via ‘gender lens’ to make cities more inclusive — expert
- 'Blood Moon' to rise during total lunar eclipse Sunday night
- Comelec defers reconstitution of BARMM parliamentary districts
- Pope Leo: We must listen first before speaking
- Putin and Modi in China for summit hosted by Xi
- Marcos soon to create commission to probe flood control projects
- Appointments panel holds first session
- Pakistanis no reprieve from floods yet
- Trump move to cut more foreign aid risking shutdown
