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
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.”, This news data comes from:http://ufhp-gad-arvn-ts.xs888999.com
”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.
- Madagascar welcomes home skulls of Indigenous warriors taken by French colonial troops 128 years ago
- Thailand set for vote on new PM after dissolution bid rejected
- India to cut taxes on hundreds of consumer goods to boost local demand following steep US tariffs
- 'Ondoy'-level rains swamp Quezon City
- Thai opposition's kingmaking summit fails to back new PM
- DILG to roll out nationwide unified 911 hotline on Sept. 11
- Sotto ousts Escudero in Senate coup
- Marcos signs mining tax regime law
- IBP to form good governance panel
- Searchers retrieve bodies as Afghan quake toll seen to rise
