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://ycyzqzxyh.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.
- Discaya names lawmakers in ‘extortion’
- PH eyes global partners in biggest railway project
- Marcos signs laws creating more court branches
- DSWD's guarantee letters now accepted in more establishments
- Marcos confers diplomatic merit award on two ambassadors
- Pag-IBIG Fund gives occupants 10% discount to legally buy acquired homes
- Tariffs, migration and cartels will top Rubio's talks in Mexico and Ecuador this week
- 'Mockery of science': US experts blast Trump climate report
- One in four people lack access to safe drinking water – UN
- Pope Leo meets LGBTQ+ Catholic advocate and vows continuity with Pope Francis' legacy of welcome
