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.
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., This news data comes from:http://xij-lhld-tgb-acw.erlvyiwan.com
Go files housing development bill
- Vico encourages citizens on Heroes’ Day to be brave
- DPWH seeks lookout bulletin vs officials, contractors in ghost projects
- 11 foreigners killed in Portugal funicular crash
- Inflation up 1.5% in August
- Afghan quake death toll surges to over 2,200
- SpaceX cancels Starship megarocket launch in latest setback
- DOJ indicts Abra Mining for fraudulent trading
- Japan PM Ishiba bounces back in polls after election debacle
- Manila Water announces service disruption for over 12K households in Mandaluyong due to leak repair
- Trump moves to limit US stays of students, journalists
