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
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.
Go files housing development bill, This news data comes from:http://www.xs888999.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.
- Four children killed by parents in Dominican Republic — police
- Oil firms to raise pump prices Tuesday
- Evicted from their forests, Kenyan hunter-gatherers fight for their rights
- COA launches sweeping audit of flood control projects
- Comelec defers reconstitution of BARMM parliamentary districts
- Marcos signs law giving 99-year land lease to foreign investors
- Dizon to order DPWH officials to submit courtesy resignation
- Cooperatives group lauds Konektadong Pinoy Law as milestone in digital inclusion
- WorldSkills Asean Manila begins
- Vico Sotto could challenge VP Sara in 2028 race – survey
