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.
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., This news data comes from:http://vx-wf-brfb-knwg.771bg.com
- Humanoid robots showcase skills at Ancient Olympia. But they're on a long road to catch up to AI
- Australia to tackle deepfake nudes, online stalking
- French couple kept panther that roamed nearby rooftops
- Go seeks more support for Filipino athletes
- Japan prince comes of age as succession crisis looms
- Drug war whistleblower Royina Garma returns to PH after US detention
- New Zealand to allow some wealthy foreign investors onto property market
- Made in China? The remarkable tale of Venice's iconic winged lion
- Lone bettor wins P86M in 6/42 lotto draw for Sept 6
- ‘Lannie’ will bring rain showers, thunderstorms over North Luzon —Pagasa
