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://jyxingfa.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.
- Xi and Putin round on West at regional summit in China
- Duterte party's acting chairman charged at Sandiganbayan over Malampaya project
- China 'elephant in the room' at fraught Pacific Islands summit
- Duterte defense files more motions challenging ICC prosecutor
- Epstein victims compiling list of sexual abusers
- Red Cross head says mass evacuation of Gaza City 'impossible'
- 25,000 Filipinos register for Pag-IBIG's Expanded 4PH Housing Program
- Pope Leo XIV to Israeli president: 2-state solution needed to end Gaza war
- Israel army urges Gaza City residents to leave
- Israel warns Hamas to surrender or face 'annihilation'
