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://www.705-888.com
- Marcos signs laws declaring holidays across PH
- Zelenskyy seeks talks with Trump and European leaders on slow progress of peace efforts with Russia
- Manila Water announces service disruption for over 12K households in Mandaluyong due to leak repair
- Pagasa: Rainy Monday over Visayas, Luzon areas due to LPA, 'habagat'
- COA launches sweeping audit of flood control projects
- Thai opposition holds kingmaking summit deciding new PM
- EU massive fine against Google draws Trump threat
- Lacson: Torre 'acted beyond his authority'
- Sen. Go calls for round-the-clock DFA support for OFWs welfare
- ‘Lannie’ will bring rain showers, thunderstorms over North Luzon —Pagasa
