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://npmr-iax-ht-qt.erlvyiwan.com
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.
- A tale of two cities: San Mateo rejects Manila's trash; Rizal opens landfill to Malabon
- PTFOMS and CHR sign agreement to improve Filipino media workers' safety
- DMW, pharmaceutical firm sign agreement to boost access to medicines, hospital services for OFWs, families
- Trump withdraws Kamala Harris's Secret Service protection
- Taiwan: China illegally deploying oil rigs in its waters
- NATIONAL ARTIST'S HOMETOWN
- Magnitude 5.1 earthquake rattles Surigao del Sur
- Australia expels Iran ambassador over antisemitic attacks
- Marcos 'ready' to undergo lifestyle check- Palace
- South Korean President vows support to Koreans arrested in US immigration raid
