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., This news data comes from:http://wj-oa-tflq-gu.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.
- Construction managers, developers back Housing chief's anti-corruption advocacy
- 1 of 2 suspects in Pasay robbery, rape arrested
- SC orders comment on petitions vs polls
- Mayor Sotto slams Discayas, cites lies, ghost firms, and kickback allegations
- Wife and ally of ousted SKorean president indicted by special prosecutors
- Marcos to create independent commission to investigate flood control anomalies
- 1.2K pass Electrical Engineers exam
- Dizon to abolish DPWH internal special investigation team created to look into the flood control anomalies
- Thai opposition's kingmaking summit fails to back new PM
- Zelenskyy seeks talks with Trump and European leaders on slow progress of peace efforts with Russia
