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://gta-rry-eov-id.gangzhifhm.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.
Go files housing development bill
- Trump says he'll keep extending TikTok shutdown deadline
- Filipino priest wins Ramon Magsaysay Award for activism against Duterte's drug war
- Israeli army: Gaza City now 'a dangerous combat zone'
- 100K Pakistanis flee amid flood threat
- Heavy rain causes flooding, landslides and 8 deaths in Vietnam and Thailand
- LPA affects Metro Manila, Mindanao, Visayas
- ‘Lannie’ to bring rain over NLuzon, southwest monsoon to affect Metro Manila, Calabarzon, Mimaropa —Pagasa
- Marcos signs mining tax regime law
- 20 people missing after deadly Indonesia protests
- 9 dead in Ecuador after bus plunges into ravine
