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.
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.yamato-syokunin.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.
- SSS rolls out historic pension reform program
- Sri Lanka ex-president Wickremesinghe hospitalized after arrest
- China is showing off its weaponry in a tightly controlled military parade
- Group presses DA on delayed fertilizer subsidies
- Oil firms to hike pump prices Tuesday
- Giovanni Lopez pledges to continue and expand DOTr reforms
- Marcos leads oath taking of new officers of League of Provinces of the Philippines
- Trump tells Europe to put economic pressure on China over Ukraine
- 'Large shark' kills man off Sydney beach
- Bonoan resigned due to command responsibility — Marcos
