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://mruha.xs888999.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.
- Sri Lanka's jailed ex-president Wickremesinghe granted bail
- Nepal to block unregistered social media platforms – govt
- WBO champ looms as Pacquiao’s next opponent
- Marcos signs laws declaring holidays across PH
- Earthquake in eastern Afghanistan kills at least 610 people and injures 1,300
- May 12 poll results accurate, credible - OCTA Research
- 2028 polls overseas voter registration opens in Dec
- Trump moves to limit US stays of students, journalists
- A tale of two cities: San Mateo rejects Manila's trash; Rizal opens landfill to Malabon
- Protesters storm Discaya compound, Sotto calls for calm
