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.
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.”, This news data comes from:http://705-888.com
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.
- Marcos to attend UN meet in New York in Sept- Palace
- Dizon to order DPWH officials to submit courtesy resignation
- House resumes budget briefings
- Marcos signs laws creating more court branches
- Putin and Modi in China for summit hosted by Xi
- Filipino fulfills dream of performing with K-pop group before home fans
- 4 policemen linked to sabungero case slapped with more administrative cases
- Some areas in Metro Manila, Bulacan to have brownouts due to maintenance work
- Zelenskyy seeks talks with Trump and European leaders on slow progress of peace efforts with Russia
- The rot goes deep: Marcos decries decades-old corruption
