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.
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.”, This news data comes from:http://yui-slps-hcna-qdl.705-888.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.
Go files housing development bill
- 3 Luzon dams release water
- Lacson lauds Leviste for arrest of DPWH engineer who offered P360M bribe
- US appeals court finds Trump's global tariffs illegal
- Marcos leads oath taking of new officers of League of Provinces of the Philippines
- 'I have no resentment,' says Torre after dismissal as PNP chief
- Quezon City hails directive for national projects to get local permits
- Meeting South Korea, Trump could eye new chance with North
- Nartatez to reassign Torre if he won't retire, says they're 'okay'
- UK police arrest hundreds in latest Palestine Action demo
- 100K Pakistanis flee amid flood threat
