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.jyxingfa.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.
- Police general suspended for ‘obstruction’ of evidence in case of missing sabungeros
- ‘Lannie’ will bring rain showers, thunderstorms over North Luzon —Pagasa
- Public Works chief to press criminal charges against Bulacan engineer
- Major road closures in Manila announced for 2025 Bar Examinations
- Sen. Bong Go files bill for better health worker protection, benefits
- Immigration deports 49 South Korean fugitives
- Australia's mushroom murderer faces victims' family in court
- Marcos sacks PNP Chief Torre, saying it was 'difficult but necessary'
- Bolsonaro verdict looms as Brazil coup trial closes
- Motive probed for US shooting that killed two children, injured 17
