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.
Go files housing development bill
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://cm-ti-djsv-bd.erlvyiwan.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.
- Social pension eyed for indigent seniors
- Globe: Mobile data helps drive national progress
- AFP: It would take more than a tugboat to tow BRP Sierra Madre from Ayungin Shoal
- Group presses DA on delayed fertilizer subsidies
- Pagasa sees two to four tropical cyclones hitting Philippines in September
- China's Xi holds talks with North Korea's Kim in Beijing
- Ukraine drone attacks spark fires at Russia's Kursk nuclear plant, Novatek's Ust-Luga terminal.
- DFA: No US extradition request for Quiboloy
- Israel city honors Quezon’s wartime rescue of Jews
- Marcos sacks PNP Chief Torre, saying it was 'difficult but necessary'
