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., This news data comes from:http://xs888999.com
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.
- What to know about Indonesia's nationwide unrest over lawmakers' perks
- 13 massage therapists robbed, 2 cry rape
- Pump prices go up
- Protesters storm Discaya compound, Sotto calls for calm
- Australia government condemns anti-immigration rally in Sydney
- 2028 polls overseas voter registration opens in Dec
- Thai tycoon takes office as PM after royal endorsement
- Ukraine's children start new school year in underground classrooms to avoid Russian bombs
- Head of main US health agency abruptly dismissed
- ALPAS Consultancy bags five awards in Philippine Quill debut
