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., This news data comes from:http://yamato-syokunin.com
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.
Go files housing development bill
- Japan pledges continued support for Philippine development projects
- Australia halts logging for koala haven on eastern coast
- Israeli PM tells Gaza City residents to 'leave now'
- Cayetano elected Senate minority leader; initial reorganization in committee chairmanships
- Nartatez vows fair assignments, better resource management as new PNP chief
- Israel tells residents to leave Gaza City ahead of offensive
- Yemen's Huthis hold funeral for PM killed in Israeli strike
- Oil firms to raise pump prices Tuesday
- Retired NBI agents urge Marcos to appoint career official to replace Santiago
- India's Modi seeks closer ties on Asia tour to offset US tariff fallout
