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://rxk-yrp-uc-lm.gyglfs.com
Go files housing development bill
- Zelenskyy meets European leaders on Ukraine security guarantees
- 1 of 2 suspects in Pasay robbery, rape arrested
- Discayas name lawmakers, DPWH officials involved in alleged extortion
- Supreme Court urged to act on fake complaints
- Thai Court: PM Shinawatra violated ethics rules
- Sara Discaya admits owning 28 luxury cars
- Trump move to cut more foreign aid risking shutdown
- Senate cites former Bulacan assistant district engineer in contempt
- Discaya says her family owns nine companies
- Lacson replaces Marcoleta as Blue Ribbon panel chairman
