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.
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://xs888999.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.”
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
- ‘New NBI chief must be career official’
- Recto: No exemption for US tech firms from digital tax
- Trump health misinformation swirls despite denial
- SC acquits suspect in 2012 killing of Dutch aid worker over doubtful testimonies
- Go files housing development bill
- Major road closures in Manila announced for 2025 Bar Examinations
- BuCor chief calls for major reforms
- 'Strangest' dinosaur covered in spiked armory – scientists
- Appointments panel holds first session
- China 'elephant in the room' at fraught Pacific Islands summit
