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., This news data comes from:http://nxtopvx.ycyzqzxyh.com
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
- Roxas matriarch Judy Araneta-Roxas, 91
- Wawao Builders exec ‘not sure’ if company has flood control project in Bulacan
- Need a pee? Japan has QR code for that
- Manila Water announces service disruption for over 12K households in Mandaluyong due to leak repair
- ‘Lannie’ will bring rain showers, thunderstorms over North Luzon —Pagasa
- Pump prices increase for 2nd straight week
- SC orders comment on petitions vs polls
- Vico Sotto could challenge VP Sara in 2028 race – survey
- Russia hits seat of Ukraine government in war's biggest air attack
- Marcos signs mining tax regime law
