SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://052298.com
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.
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.
- House holds budget review with 21 civil society organizations
- Govt debt swells to record P17.58T
- PH, Japan conduct search and rescue exercises
- Some areas in Metro Manila, Bulacan to have brownouts due to maintenance work
- Marcos signs laws declaring holidays across PH
- Bolsonaro verdict looms as Brazil coup trial closes
- President Marcos Jr. visits Cambodia to strengthen ties
- Lacson lauds Leviste for arrest of DPWH engineer who offered P360M bribe
- Philippines presses call for ceasefire in Gaza
- N. Korea test-fires two 'new' air defense missiles
