SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://bq-dwl-tj-jaid.ycyzqzxyh.com
Go files housing development bill
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.”
”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.
- Australia's 'mushroom murderer' handed life in prison with parole
- North Korean leader inspects new missile factory ahead of visit to China
- Ukraine offers to co-produce drones with Philippines for maritime patrols
- Israeli forces seize nearly 0,000 in West Bank raid
- Two foreigners face trafficking complaint in Pasay City
- Four children killed by parents in Dominican Republic — police
- A suicide bombing near a political rally in southwestern Pakistan kills 13 and wounds 30
- PH Army showcases disaster response capabilities before Thai defense officials
- ‘40% of Filipinos obese’
- First millennial saint: Vatican to canonize 'God's Influencer' Carlo Acutis
