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://ccdiny.yamato-syokunin.com
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.”
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.
- EU massive fine against Google draws Trump threat
- New Quezon City judge to oversee Dengvaxia vaccine cases, sets hearing
- China to bolster non-Western alliances at summit, parade
- 2028 polls overseas voter registration opens in Dec
- Escudero subpoenas 5 contractors, 3 DPWH executives to Senate probe
- PTFOMS and CHR sign agreement to improve Filipino media workers' safety
- Evicted from their forests, Kenyan hunter-gatherers fight for their rights
- Rep. Tiangco reveals P17B flood control allocations linked to former appropriations chairman Rep. Zaldy Co
- Marcos, first lady visit Cambodia to boost ties
- DILG to roll out nationwide unified 911 hotline on Sept. 11
