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.
Go files housing development bill
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://drqx-vir-tm-ih.705-888.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.
- DOST, SM Supermalls partner to empower businesses with sustainable practices
- BIR to audit contractors flagged for ghost flood projects for tax fraud — BIR
- DILG denies claims ex-PNP chief ousted over firearms purchase
- Thai cannabis-championing tycoon takes office as PM
- PNP chief supports lowering age of discernment
- Iran-backed Houthis raid UN offices in Yemen and detain at least 11 employees
- Filipino weightlifter Vanessa Sarno banned for 2 years for anti-doping violation
- 17 House lawmakers press Marcos administration to raise WPS issue to UN
- Comelec defers BARMM district reconstitution
- Thai tycoon takes office as PM after royal endorsement
