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, This news data comes from:http://uxvv-reek-ae-idnh.ycyzqzxyh.com
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.”
”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.
- Malaysia warns TikTok vs cyberbullying, deepfakes
- Australia government condemns anti-immigration rally in Sydney
- Public Works Chief Vince Dizon demands courtesy resignations to 'clean house'
- Red Cross head says mass evacuation of Gaza City 'impossible'
- DOE issues circular to consolidate electric vehicle recognition guidelines
- President Marcos commits to boosting PH digital infrastructure
- AboitizPower pushes growth with clean, renewable energy
- Trump plans a hefty tax on imported drugs, risking higher prices and shortages
- Shooting of Indonesian diplomat in Peru investigated as a contract killing
- BIR to audit contractors flagged for ghost flood projects for tax fraud — BIR
