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://gto-huam-pcth-cnxf.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.
Go files housing development bill
- Putin facing mounting pressure from the West
- 'Lannie' exits PH — Pagasa
- Marcos to youth: Help in nation-building
- Portugal mourns after Lisbon streetcar accident kills 15
- 'I have no resentment,' says Torre after dismissal as PNP chief
- Rise in HFMD cases due to better reporting, not outbreak
- Marcos signs laws declaring holidays across PH
- Customs finds only 2 luxury cars at contractor's compound in Pasig
- Epstein victims compiling list of sexual abusers
- DPWH told to build evacuation centers
