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://www.erlvyiwan.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.
Go files housing development bill
- Social media erupts: Politicians' children face backlash for flaunting wealth
- Gasoline, diesel prices to increase by P1 next week
- DSWD allocates P6.2B for livelihood program
- Palace hits Discayas over ‘misinformation’ on PH film center project
- Sara says govt corruption probe a 'zarzuela,' plans to meet Robredo im Bicol festival
- Aftershocks rumble quake-hit Afghanistan as death toll tops 1,400
- Construction managers, developers back Housing chief's anti-corruption advocacy
- Labubu fans flock to stores after launch of mini dolls
- Sen. Go files bills to push health, social, and labor reforms
- Thai opposition's kingmaking summit fails to back new PM
