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., This news data comes from:http://052298.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.
Go files housing development bill
- Filipino weightlifter Vanessa Sarno banned for 2 years for anti-doping violation
- Wawao Builders exec ‘not sure’ if company has flood control project in Bulacan
- LPA may still develop into short-lived tropical cyclone
- Putin and Modi in China for summit hosted by Xi
- US appeals court finds Trump's global tariffs illegal
- DPWH fires Bulacan engineers, blacklists contractors over anomalous projects
- Ukraine drone attacks spark fires at Russia's Kursk nuclear plant, Novatek's Ust-Luga terminal.
- La Niña forecast from Sept-Dec, expect more tropical cyclones, above normal rainfall -- Pagasa
- Trump hails Department of War rebrand as 'message of victory'
- Puno seeks probe of anomalous projects ‘funders’
