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://705-888.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.”
Go files housing development bill
”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.
- Quezon City launches 'Healthy QC' ordinance to combat childhood obesity
- Go Negosyo, CFO push migrant empowerment
- 1.2K pass Electrical Engineers exam
- Filipino weightlifter Vanessa Sarno banned for 2 years for anti-doping violation
- Thousands protest in Nepal over social media ban, corruption
- Trump moves to end US tariff exemption for small packages
- Pump prices increase for 2nd straight week
- 'Strangest' dinosaur covered in spiked armory — Scientists
- Recto: No exemption for US tech firms from digital tax
- Trump hails Department of War rebrand as 'message of victory'
