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.
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://giq-tri-dxgp-eldo.gyglfs.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.
- Discaya’s construction companies competed against each other during biddings
- Bureau of Customs seeks missing luxury cars of contractor Sarah Discaya
- An AI simulation of a Mount Fuji eruption is being used to prepare Tokyo for the worst
- Wawao Builders exec ‘not sure’ if company has flood control project in Bulacan
- Israeli army: Gaza City now 'a dangerous combat zone'
- Thai cannabis-championing tycoon takes office as PM
- New Quezon City judge to oversee Dengvaxia vaccine cases, sets hearing
- Aftershocks rumble quake-hit Afghanistan as death toll tops 1,400
- A tale of two cities: San Mateo rejects Manila's trash; Rizal opens landfill to Malabon
- DOH unveils 7 priority measures at House hearing
