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.
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., This news data comes from:http://scr-tltm-mj-hh.052298.com
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
- Xi slams 'bullying' in speech to regional leaders at summit
- Thailand acting PM moves to dissolve parliament — party
- Humanoid robots showcase skills at Ancient Olympia. But they're on a long road to catch up to AI
- Thailand's Parliament to vote Friday for a new prime minister
- Inflation up 1.5% in August
- South Korea's Lee faces pivotal test at first summit with Trump
- Court rules on subdivision open spaces, road lots
- PTFOMS and CHR sign agreement to improve Filipino media workers' safety
- Tariffs, migration and cartels will top Rubio's talks in Mexico and Ecuador this week
- Navotas inks deal for school feeding project
