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://xs888999.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.
- Filipino weightlifter Vanessa Sarno banned for 2 years for anti-doping violation
- Thai Court: PM Shinawatra violated ethics rules
- Manila mayor warns against mobs, orders police to maintain peace and order
- 17 House lawmakers press Marcos administration to raise WPS issue to UN
- Super Sale: Pag-IBIG offers 40% off on foreclosed assets
- Israel tells residents to leave Gaza City ahead of offensive
- Marcos opens WorldSkills Asean competition
- France seized by fears of new political crisis
- Australia expels Iran ambassador over antisemitic attacks
- Duterte lawyers take aim at ICC prosecutor
