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://qoy-xv-wgvm-df.xs888999.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.
- UN force in Lebanon slams Israeli drone attack on peacekeepers
- Gloria Arroyo files bill to empower Office of the Vice President
- 2028 polls overseas voter registration opens in Dec
- LPA trough, 'habagat' to bring rains in parts of Luzon, including Metro Manila
- Sotto files bill to amend party-list system
- 100K Pakistanis flee amid flood threat
- US approves .5M in assistance to Nigeria to help address hunger
- Isko files raps over demolition of sports complex
- South Africa's most vulnerable struggle to find HIV medication after US aid cuts
- Japan pledges continued support for Philippine development projects
