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., This news data comes from:http://fugl-tf-og-tq.xs888999.com
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.
- Puno seeks probe of anomalous projects ‘funders’
- Thailand's suspended prime minister testifies over phone call that could get her booted from job
- Pope Leo XIV to Israeli president: 2-state solution needed to end Gaza war
- Mandela grandson says he will join Gaza aid boat
- LGBTQ+ Catholics make Holy Year pilgrimage to Rome and celebrate a new sense of acceptance
- MMDA inks deal with DBM for G-3 program
- LPA has big chance of intensifying into tropical cyclone to be named ‘Kiko’
- 'Mockery of science': US experts blast Trump climate report
- Immigration deports 49 South Korean fugitives
- DBP to be honored at inaugural Manila Times Sustainability Awards
