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://en.052298.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.
- Putin lands in Tianjin for summit hosted by China
- Drug war whistleblower Royina Garma returns to PH after US detention
- Israel tells residents to leave Gaza City ahead of offensive
- Duterte party's acting chairman charged at Sandiganbayan over Malampaya project
- Emma Tiglao crowned Miss Grand PH 2025
- Philippines calls for Gaza ceasefire amid humanitarian crisis
- ‘New NBI chief must be career official’
- DILG suspends classes, gov’t work in 17 areas
- Search for survivors after Afghan earthquake kills 800
- Bureau of Customs seeks missing luxury cars of contractor Sarah Discaya
