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.
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.”, This news data comes from:http://www.aichuwei.com
”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.
Go files housing development bill
- Sri Lanka's jailed ex-president Wickremesinghe granted bail
- South Korea to ban mobile phones in school classrooms
- Konektadong Pinoy Bill has lapsed into law — Palace
- Drug war whistleblower Royina Garma returns to PH after US detention
- Israel ups pressure on Gaza City as Trump talks post-war plan
- New DPWH chief Dizon: "A department can't investigate itself"
- Marcos soon to create commission to probe flood control projects
- Indonesian police officer fired over killing that sparked protests
- DICT grants amnesty to unregistered delivery firms
- Thai court to rule on PM's fate after Hun Sen call leak
