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., This news data comes from:http://xedp.052298.com
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation.
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.
Go files housing development bill
- North Korea's Kim Jong Un travels to Beijing to watch military parade alongside Putin, Xi Jinping
- Isko Moreno files charges against contractor over illegal demolition of sports complex in Manila
- 500 Internal Server Error
- UN watchdog finds uranium traces at suspected Syrian former nuclear site
- Gloria Arroyo files bill to empower Office of the Vice President
- SC clarifies rules on land ownership
- House resumes budget briefings
- Indonesia protests put spotlight on paramilitary police force
- Angkas supports DICT's amnesty program for unregistered delivery services
- Comelec to open nearly two-year overseas voter registration for 2028 elections
