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, This news data comes from:http://gyglfs.com
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation.
Go files housing development bill
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.
- AFP: It would take more than a tugboat to tow BRP Sierra Madre from Ayungin Shoal
- IBP to form good governance panel
- Pope Leo meets LGBTQ+ Catholic advocate and vows continuity with Pope Francis' legacy of welcome
- US appeals court finds Trump's global tariffs illegal
- A summit and parade in China may signal a geopolitical shift
- PH, Japan conduct search and rescue exercises
- 2 Marikina policemen accused of molestation
- SC acquits suspect in 2012 killing of Dutch aid worker over doubtful testimonies
- China is showing off its weaponry in a tightly controlled military parade
- Follow the trucks: Why investors are looking south of Metro Manila
