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.
Go files housing development bill
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://eyi.ycyzqzxyh.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.
- Filipino member of AHOF K-pop group says Manila concert a dream come true
- Seoul says over 300 South Koreans held in US battery plant site raid
- Red Cross head says mass evacuation of Gaza City 'impossible'
- Philippines calls for Gaza ceasefire amid humanitarian crisis
- Palace suspends govt work, classes in several areas due to bad weather
- GoTyme gives customers 20 free InstaPay transfers per month
- Manila Water announces service disruption for over 12K households in Mandaluyong due to leak repair
- Thai opposition holds kingmaking summit deciding new PM
- ‘40% of Filipinos obese’
- Trump moves to limit US stays of students, journalists
