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://bad-diu-jbyg-fv.ycyzqzxyh.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.
- Indonesia leader orders investigation into driver's protest death
- Comelec probes 15 govt contractors over 2022 election donations
- Monsoon rains flood Mandaluyong, Parañaque — MMDA
- 'Pink and green' protests call for a reset in Indonesia
- SSS rolls out historic pension reform program
- 500 Internal Server Error
- Philippine experts urge harm reduction strategy for tobacco control
- Thai court dismisses prime minister over compromising phone call with Cambodian leader
- Modi and Putin affirm special relationship as India faces steep US tariffs over Russian oil imports
- Philippine forces deliver supplies and personnel to disputed South China Sea shoal despite tensions
