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.
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.”
”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., This news data comes from:http://yamato-syokunin.com
Go files housing development bill
- Marcos embarks on three-day state visit to Cambodia
- Immigration deports 49 South Korean fugitives
- OVP ready to submit to lifestyle check if ordered, no word from Sara
- President Marcos to attend 80th UN General Assembly in New York
- Epstein victims compiling list of sexual abusers
- Peru’s ex-president Toledo gets a second sentence in the Odebrecht corruption scandal
- Open mic caught Xi, Putin discussing immortality
- Marcos suspends importation of regular, well-milled rice for 60 days
- Australia expels Iran ambassador over antisemitic attacks
- DICT grants amnesty to unregistered delivery firms
