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://ycyzqzxyh.com
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.
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.”
Go files housing development bill
”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.
- EU massive fine against Google draws Trump threat
- Trump plans a hefty tax on imported drugs, risking higher prices and shortages
- Humanoid robots showcase skills at Ancient Olympia. But they're on a long road to catch up to AI
- Navotas holds anti-plastic drive
- Marcos suspends importation of regular, well-milled rice for 60 days
- Immigration: 1st lookout bulletin in effect on 35 individuals, including Discayas, linked to anomalous flood control projects
- Philippine forces deliver supplies and personnel to disputed South China Sea shoal despite tensions
- Lacson: DPWH exec sought ‘insertions’
- Prime minister of Yemen's Houthi-run government killed in Israeli strike
- SSS pension reform program starts in September
