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.
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
”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://wqou-mfyb-ttud-eq.771bg.com
- PH economic losses hit 100B from corruption in flood control projects
- National Guard troops begin carrying weapons in US capital
- Vico Sotto could challenge VP Sara in 2028 race – survey
- President Marcos to attend 80th UN General Assembly in New York
- Sara says govt corruption probe a 'zarzuela,' plans to meet Robredo im Bicol festival
- Ever dream of having an entry in the Guinness World Records? Here's how to do it
- Nartatez vows fair assignments, better resource management as new PNP chief
- Thai opposition's kingmaking summit fails to back new PM
- DPWH told to build evacuation centers
- Discaya companies' licenses revoked for bid-rigging
