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://sa-yes-jksu-ihoa.052298.com
- House resumes budget briefings
- Isko Moreno files charges against contractor over illegal demolition of sports complex in Manila
- Zelenskyy seeks talks with Trump and European leaders on slow progress of peace efforts with Russia
- Pangilinan pushes coordinated water management
- Motorist in San Juan traffic spat faces sanction
- Filipino member of AHOP K-pop group says Manila concert a dream come true
- Follow the trucks: Why investors are looking south of Metro Manila
- LTO summons driver who berated enforcer
- Social pension eyed for indigent seniors
- President Marcos launches HD Hyundai Shipyard in Subic
