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.
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://ku-ovy-eh-iv.xs888999.com
Go files housing development bill
- Group presses DA on delayed fertilizer subsidies
- Task force cites new threats to media workers
- Marcos embarks on three-day state visit to Cambodia
- UK refuses to invite Israeli government officials to London arms fair over the war in Gaza
- Marcos names Dizon as DPWH secretary
- Trump to blacklist countries for imprisoning Americans
- Israeli army: Gaza City now 'a dangerous combat zone'
- PNP chief leads fun run
- Pagasa sees cyclone-free week across PH
- Macron says 26 countries pledge troops as a reassurance force for Ukraine after war ends
