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.”
”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., This news data comes from:http://ayaa-gm-fv-djry.771bg.com
- PH has chance of getting UNSC seat - Manalo
- Wife of Australian man wanted in police killings urges him to surrender
- Marcos 'ready' to undergo lifestyle check- Palace
- Vatican puts Pope Francis' ecological preaching into practice with vocational farm center
- Indonesian police officer fired over killing that sparked protests
- Comelec probes 15 govt contractors over 2022 election donations
- Lacson to Marcoleta: I don’t want a fight but I won’t back down from one
- Tokyo logs record 10 days of 35 C or higher
- House panel defers 2026 DPWH budget until agency submit changes
- Pagasa: Rainy Monday over Visayas, Luzon areas due to LPA, 'habagat'
