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., This news data comes from:http://www.jyxingfa.com
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.
Go files housing development bill
- Eight towns in Cotabato cancel classes on Monday
- Marcos, first lady visit Cambodia to boost ties
- Pope Leo XIV to Israeli president: 2-state solution needed to end Gaza war
- MPD announces road closures for Bar exams
- Konektadong Pinoy Bill has lapsed into law — Palace
- North Korean leader inspects new missile factory ahead of visit to China
- Pump prices go up
- Nepal to block unregistered social media platforms – govt
- Thai woman jailed for 43 years for lese majeste freed
- Thai cannabis-championing tycoon takes office as PM
