SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://gangzhifhm.com
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.”
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.
- Nartatez to reassign Torre if he won't retire, says they're 'okay'
- Retired NBI agents urge Marcos to appoint career official to replace Santiago
- Palace rejects Sara's offer of 'free advice' on flood solutions, says to give it to 'Mayor Baste' instead
- Oil firms to hike pump prices Tuesday
- US strike marks shift to military action against drug cartels
- LPA over West PH Sea develops into tropical depression, now called ‘Jacinto’ -- Pagasa
- Filipino weightlifter Vanessa Sarno banned for 2 years for anti-doping violation
- Comelec to open nearly two-year overseas voter registration for 2028 elections
- Construction managers, developers back Housing chief's anti-corruption advocacy
- Former PNP chief Torre III offered new government post
