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., This news data comes from:http://vhox-jm-dy-iye.ycyzqzxyh.com
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.”
”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
- PH, Australia, Canada hold joint sea drills
- EU massive fine against Google draws Trump threat
- Surfacing of WPS features ‘likely’ natural occurrence, not due to dumped crushed corals
- Taiwan: China illegally deploying oil rigs in its waters
- Pangilinan urges Marcos Jr. to prioritize bill aiding farmers, fishermen
- Group presses DA on delayed fertilizer subsidies
- Zelenskyy seeks talks with Trump and European leaders on slow progress of peace efforts with Russia
- Leviste files charges against DPWH engineer who tried to bribe him
- Marcos to mark ‘Thrilla In Manila’ 50th anniversary
- 11 foreigners killed in Portugal funicular crash
