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://www.jyxingfa.com
- Australia halts logging for koala haven on eastern coast
- Philippine experts urge harm reduction strategy for tobacco control
- DOE issues circular to consolidate electric vehicle recognition guidelines
- Government work, classes on Tuesday suspended due to bad weather
- New DPWH chief Dizon: "A department can't investigate itself"
- Zelenskyy meets European leaders on Ukraine security guarantees
- Monsoon rains flood Mandaluyong, Parañaque — MMDA
- Ever dream of having an entry in the Guinness World Records? Here's how to do it
- Iran says open to US nuclear talks, rejects missile curbs
- Filipino priest wins Ramon Magsaysay Award for activism against Duterte's drug war
