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., This news data comes from:http://nvu-dttn-rola-ijx.xs888999.com
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.
Go files housing development bill
- Philippines nears universal healthcare, 80% goal achieved -- Marcos
- Madagascar welcomes home skulls of Indigenous warriors taken by French colonial troops 128 years ago
- Some National Guard units in Washington are now carrying firearms in escalation of Trump deployment
- Repairs on Chinese ship in Bajo de Masinloc collision may take 2 months - PH Navy
- India to cut taxes on hundreds of consumer goods to boost local demand following steep US tariffs
- Pagasa monitors LPA off Cavite, may still become tropical depression
- Transport chief pushes shame campaign vs errant motorists
- Classes suspended in 10 Metro Manila cities due to rains
- Drones take on Everest's garbage
- Comelec completes ballot printing for Bangsamoro elections despite redistricting dispute
