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.
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, This news data comes from:http://nflr-uo-ig-prb.erlvyiwan.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.
Go files housing development bill
- Trump wants to meet Norea Korea's Kim again
- DoJ to begin preliminary investigation into missing cockfighting enthusiasts
- EU massive fine against Google draws Trump’s ire
- Bureau of Customs seeks missing luxury cars of contractor Sarah Discaya
- Vatican puts Pope Francis' ecological preaching into practice with vocational farm center
- China's Communist rulers push party role before World War II anniversary
- Police general suspended for ‘obstruction’ of evidence in case of missing sabungeros
- PH eyes global partners in biggest railway project
- India's Modi seeks closer ties on Asia tour to offset US tariff fallout
- Maryland resident is diagnosed with New World screwworm. What to know about the parasite
