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://bgmu-bbcy-ox-nain.aichuwei.com
Go said the measure aims to meet the country’s growing social housing demands, particularly among underprivileged and homeless citizens.
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.
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.
- New judge to handle Dengvaxia cases named; hearing set
- Head of main US health agency abruptly dismissed
- Pacifist Japan struggles to boost troops as China anxiety grows
- Majority of Filipinos unaware of vote buying in 2025 elections, OCTA survey shows
- Thousands protest in Nepal over social media ban, corruption
- Tokyo logs record 10 days of 35 C or higher
- No winner in Ultra, Megalotto draws for Aug 29
- Bureau of Customs seeks missing luxury cars of contractor Sarah Discaya
- UN chief argues that investing in fighting poverty instead of wars would make a more secure world
- NKorea's Kim tells Xi hopes to 'steadily develop' ties – KCNA
