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.
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://gyglfs.com
”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.
Go files housing development bill
- Task force cites new threats to media workers
- Napolcom welcomes Nartatez’s move to recall Torre’s reassignments
- Monsoon rains flood Mandaluyong, Parañaque — MMDA
- Major road closures in Manila announced for 2025 Bar Examinations
- Sri Lanka's jailed ex-president Wickremesinghe granted bail
- Kris Aquino is alive, says friend amid reports of death
- DOST, SM Supermalls partner to empower businesses with sustainable practices
- Australia's mushroom murderer faces victims' family in court
- 'Mockery of science': US experts blast Trump climate report
- Comelec upholds cancelation of Duterte Youth registration
