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.”, This news data comes from:http://ghas-et-mjyo-guio.jyxingfa.com
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.
Go files housing development bill
- Gaza at 'breaking point,' says UN food agency chief after visit
- Marcos, first lady visit Cambodia to boost ties
- Surfacing of WPS features ‘likely’ natural occurrence, not due to dumped crushed corals
- 20 people missing after deadly Indonesia protests
- Chinese warships shadow Philippine, Australian, Canadian drills in Zambales
- UN force in Lebanon slams Israeli drone attack on peacekeepers
- Customs preparing report on Discayas’ 28 luxury cars
- Madagascar welcomes home skulls of Indigenous warriors taken by French colonial troops 128 years ago
- Putin meets Kim, praises North Korean troops in Russia
- Putin facing mounting pressure from the West
