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, This news data comes from:http://dhao-pj-eg-jcoq.705-888.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.”
”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.
- Jollibee, DepEd partner to develop quick service restaurant curriculum for senior high
- Hope dwindles for survivors days after deadly Afghan quake
- Russia hits seat of Ukraine government in war's biggest air attack
- Duterte Youth brings Comelec cancelation battle to Supreme Court
- Some National Guard units in Washington are now carrying firearms in escalation of Trump deployment
- Major road closures in Manila announced for 2025 Bar Examinations
- NATO members to reach 2% defense spending goal this year
- Sara mum, but brother thinks Torre removal due to PNP's 'internal conflicts'
- Marcos leads oath taking of new officers of League of Provinces of the Philippines
- PH, Australia, Canada hold joint sea drills
