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.
Go files housing development bill
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://oql-gt-pmf-oqdl.redcanaco.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.
- Gasoline, diesel prices to increase again next week
- Thailand's former Prime Minister Thaksin makes surprise departure ahead of a risky court ruling
- Israel tells residents to leave Gaza City ahead of offensive
- Recto: No exemption for US tech firms from digital tax
- Metro Manila disaster agencies expand response areas in preparation for 'Big One'
- Hope dwindles for survivors days after deadly Afghan quake
- NBI slaps Alice Guo, 35 Others with new graft, misconduct cases
- CFO moves office from QC to Pasay
- Marcos opens WorldSkills Asean competition
- SpaceX cancels Starship megarocket launch
