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.
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation., This news data comes from:http://fld-xy-mps-ege.052298.com
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.
- Public Works chief to press criminal charges against Bulacan engineer
- LPA trough, 'habagat' to bring rains in parts of Luzon, including Metro Manila
- Laws signed on holidays, court branches
- Pagasa sees two to four tropical cyclones hitting Philippines in September
- Head of main US health agency abruptly dismissed
- Pakistanis no reprieve from floods yet
- Yemen's Huthis hold funeral for PM killed in Israeli strike
- ChatGPT to get parental controls after teen's death
- South Korea to ban mobile phones in school classrooms
- COA probes Iqbal on spending of P1.7B in one day
