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., This news data comes from:http://qkgk.aichuwei.com
Go files housing development bill
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.
- Bolsonaro verdict looms as Brazil coup trial closes
- Sara Duterte calls DPWH flood control Inquiry a 'Zarzuela'
- Sen. Go files bills to push health, social, and labor reforms
- DICT grants amnesty to unregistered delivery firms
- House probe tackles flood control corruption: Lawmakers disclose conflicts of interest
- House starts flood control probe
- Rise in HFMD cases due to better reporting, not outbreak
- Pope Leo meets LGBTQ+ Catholic advocate and vows continuity with Pope Francis' legacy of welcome
- Vico Sotto could challenge VP Sara in 2028 race – survey
- Five journalists among 20 killed in Israeli strikes on Gaza hospital
