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://uqxkwvn.052298.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.
- Duterte defense files more motions challenging ICC prosecutor
- Philippines presses call for ceasefire in Gaza
- ‘New NBI chief must be career official’
- Marcos orders lifestyle checks on all government officials amid flood control probe
- Giovanni Lopez pledges to continue and expand DOTr reforms
- Israel ups pressure on Gaza City
- Customs preparing report on Discayas’ 28 luxury cars
- House resumes budget briefings
- DPWH exec asked lawmaker to make budget insertions — Lacson
- New judge to handle Dengvaxia cases named; hearing set
