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://jqxukd.jyxingfa.com
Go files housing development bill
- Ever dream of having an entry in the Guinness World Records? Here's how to do it
- New law lets foreigner investors lease land for 99 years
- Vico Sotto could challenge VP Sara in 2028 race – survey
- Modi reaffirms India's support for Ukraine peace settlement during call with Zelenskyy
- IBP to form good governance panel
- Denmark summons US envoy over 'attempts to influence' Greenland
- DMW, pharmaceutical firm sign agreement to boost access to medicines, hospital services for OFWs, families
- 25,000 Filipinos register for Pag-IBIG's Expanded 4PH Housing Program
- President Marcos commits to boosting PH digital infrastructure
- Marcos suspends importation of regular, well-milled rice for 60 days
