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., This news data comes from:http://www.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
- Marcos opens WorldSkills Asean competition
- More funding sought for sports commission
- Some areas in Metro Manila, Bulacan to have brownouts due to maintenance work
- Maduro hits ‘illegal’ US troops deployment
- DSWD program reduced hunger
- MPD announces road closures for Bar exams
- LPA over West PH Sea develops into tropical depression, now called ‘Jacinto’ -- Pagasa
- 'Lannie' exits PH — Pagasa
- ₱1.7M shabu seized in Taguig buy-bust
- A suicide bombing near a political rally in southwestern Pakistan kills 13 and wounds 30
