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, This news data comes from:http://mdiw.gyglfs.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.
- Co out of country for medical reasons
- Police officers face more charges in missing cockfight enthusiasts case
- Vico Sotto could challenge VP Sara in 2028 race – survey
- Discaya’s construction companies competed against each other during biddings
- Head of main US health agency abruptly dismissed
- China displays its weaponry in a tightly controlled military parade
- Chinese sleeper agents' and PLA operatives a threat, Lacson warns
- Japan govt seeks to triple spending on drones
- Venezuela builds up border security over US warships
- Indonesia, US and allies launch joint military drills
