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
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, This news data comes from:http://wub-dvvq-qmpb-vct.erlvyiwan.com
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.
- Four children killed by parents in Dominican Republic — police
- Recto: No exemption for US tech firms from digital tax
- DPWH fires Bulacan engineers, blacklists contractors over anomalous projects
- SSS hails Marcos, Recto for initiating pension reforms, including one to be rolled out in Sept
- House starts flood control probe
- LPA off Leyte has low chance of becoming cyclone within 24 hours —Pagasa
- Madagascar welcomes home skulls of Indigenous warriors taken by French colonial troops 128 years ago
- Bonoan resigned due to command responsibility — Marcos
- 175th birth anniversary of Marcelo H. Del Pilar commemorated in Manila
- DILG denies allegations that PNP chief fired over firearms deal
