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://www.gyglfs.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.
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.
- Follow the trucks: Why investors are looking south of Metro Manila
- Marcos, first lady visit Cambodia to boost ties
- Wildfire tears through California gold rush town
- Escudero subpoenas 5 contractors, 3 DPWH executives to Senate probe
- Rains over Metro Manila, parts of PH as LPA may develop into 'short-lived' tropical depression
- Sara slams govt corruption probe as a 'political zarzuela,' to meet with Robredo at Bicol festival
- Discaya companies' licenses revoked for bid-rigging
- Lacson to govt: Protect education budget
- Emma Tiglao crowned Miss Grand PH 2025
- Trump moves to end US tariff exemption for small packages
