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.”
”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://705-888.com
- 4 of 15 contractors on Marcos list have clean records – DPWH
- Nartatez to reassign Torre if he won't retire, says they're 'okay'
- MPD announces road closures for Bar exams
- Thai court to rule on PM's fate after Hun Sen call leak
- Lacson: House can't return proposed 2026 budget to Palace
- La Niña forecast from Sept-Dec, expect more tropical cyclones, above normal rainfall -- Pagasa
- Lawmaker questions 340% NTF-ELCAC budget increase
- Malabon City honors partners
- US warship heading toward Caribbean Sea
- Indonesia protests put spotlight on paramilitary police force
