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://www.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.
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.”
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.
- Putin lands in Tianjin for summit hosted by China
- Group presses DA on delayed fertilizer subsidies
- Marcos names Dizon as DPWH secretary
- New Zealand to allow some wealthy foreign investors onto property market
- 2028 polls overseas voter registration opens in Dec
- Thai cannabis-championing tycoon takes office as PM
- BuCor chief calls for major reforms
- China displays its weaponry in a tightly controlled military parade
- 500 Internal Server Error
- Venezuela deploys warships, drones as US destroyers draw near
