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.
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., This news data comes from:http://yamato-syokunin.com
- North Korea's Kim Jong Un travels to Beijing to watch military parade alongside Putin, Xi Jinping
- 175th birth anniversary of Marcelo H. Del Pilar commemorated in Manila
- Bishops demand broad probe into flood project corruption
- LGBTQ+ Catholics make Holy Year pilgrimage to Rome and celebrate a new sense of acceptance
- PH, Australia commend ‘impressive’ joint sea drills
- Lookout bulletins out vs Atong Ang, Barretto
- PH, Australia, Canada hold maritime drills in West Philippine Sea
- Vietnam evacuates thousands ahead of Typhoon Kajiki
- Thai opposition holds kingmaking summit deciding new PM
- Marcos suspends importation of regular, well-milled rice for 60 days
