SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://ut.jyxingfa.com
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.
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.”
Go files housing development bill
”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.
- Marcos to mark ‘Thrilla In Manila’ 50th anniversary
- Israel ups pressure on Gaza City as Trump talks post-war plan
- Pagasa sees cyclone-free week across PH
- Sara’s claims that corruption probe could be done in one day 'absolutely preposterous' – Palace
- Roxas matriarch Judy Araneta-Roxas, 91
- Manila marks National Heroes Day with job fair
- Trump moves to cut more foreign aid, risking shutdown
- Some areas in Metro Manila, Bulacan, Quezon to have power interruptions due to maintenance work
- Marcos orders full budget review for DPWH amid ghost projects scandal
- Discaya’s construction companies competed against each other during biddings
