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., This news data comes from:http://yyxggqs.771bg.com
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.
- Sara favors punishing officials, lifestyle checks
- Australia expels Iran ambassador over antisemitic attacks
- Sotto willing to testify in Senate probe of flood control anomalies if summoned
- Modi reaffirms India's support for Ukraine peace settlement during call with Zelenskyy
- Afghanistan earthquake kills more than 800
- Marcos mum on Magalong joining independent commission for DPWH probe
- Escudero subpoenas 5 contractors, 3 DPWH executives to Senate probe
- Students, faculty file complaint against Universidad de Manila president
- Police brutality fuels soaring tensions in Indonesia
- Marcos signs law giving 99-year land lease to foreign investors
