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://yamato-syokunin.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.”
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.
- Malaysia warns TikTok vs cyberbullying, deepfakes
- Marcos signs laws declaring holidays across PH
- Guyana votes amid oil boom, Venezuela tensions
- PNP chief supports lowering age of discernment
- UN force in Lebanon slams Israeli drone attack on peacekeepers
- Comelec upholds cancelation of Duterte Youth registration
- No peace without end to hostilities –Arab bloc
- 15 companies vie for 'Sustainability Champions' award
- Judge reverses Trump administration's cuts of billions of dollars to Harvard University
- UK refuses to invite Israeli government officials to London arms fair over the war in Gaza
