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.”
Go files housing development bill, This news data comes from:http://ijm-drl-yty-syqy.gangzhifhm.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.
- Putin threatens to target Western troops in Ukraine
- Modi reaffirms India's support for Ukraine peace settlement during call with Zelenskyy
- Nartatez relieves Fajardo as PNP spokesman
- San Juan commemorates first revolution under Spanish rule in 129th Araw ng Pinaglabanan
- Harold Cabreros takes post as new OCD chief
- Earthquake kills 250, injures 500 in Afghanistan
- Philippines presses call for ceasefire in Gaza
- Trough of LPA, ‘habagat’ will bring rain showers, thunderstorms across PH
- DPWH chief rejects calls to resign as he vows to probe corruption in flood control projects
- President asks governor to expose irregularities in govt projects
