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.
Go files housing development bill
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://xmfgrq.052298.com
- Pagasa monitors 2 LPAs inside PAR; prevailing 'habagat' brings rain across PH
- 17 House lawmakers press Marcos administration to raise WPS issue to UN
- NBI slaps Alice Guo, 35 Others with new graft, misconduct cases
- Venezuela builds up border security over US warships
- Emma Tiglao crowned Miss Grand PH 2025
- Choose Ombudsman with integrity, intelligence, insight – Cayetano
- China 'elephant in the room' at fraught Pacific Islands summit
- Malabon averts crisis with garbage deal
- 2 Marikina policemen accused of molestation
- COA flags fraud in P342M Bulacan flood control projects
