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., This news data comes from:http://lgowqnh.yamato-syokunin.com
Go files housing development bill
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.
- Trump moves to end US tariff exemption for small packages
- Actress Angel Aquino victim of 'deepfake,' seeks prosecution of perpetrators of cyber pornography
- Marcos signs mining tax regime law
- Zelenskyy seeks talks with Trump and European leaders on slow progress of peace efforts with Russia
- PNP chief Torre relieved from post — Palace
- Maduro calls for dialogue hours after Trump’s threat
- Tariffs, migration and cartels will top Rubio's talks in Mexico and Ecuador this week
- Govt monitoring Chinese ‘sleeper agents’ in PH
- Nepali court: Hindu holy men's nudity not obscene
- PH, Japan conduct search and rescue exercises
