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://www.yamato-syokunin.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.
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.
- Preliminary report on Lisbon funicular accident expected
- Searchers retrieve bodies as Afghan quake toll seen to rise
- PH, Australia hold live fire drills during ALON 2025 in Nueva Ecija
- New law lets foreigner investors lease land for 99 years
- Govt eyes charges vs Discayas over 'unfinished' PH Film Heritage Building
- US senators to reinforce 'partnership' with Taiwan
- Pagasa sees cyclone-free week across PH
- NBI slaps Alice Guo, 35 Others with new graft, misconduct cases
- DMW: 19 distressed OFWs return home from Jeddah
- Manila Water announces service disruption for over 12K households in Mandaluyong due to leak repair
