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.
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., This news data comes from:http://mvjs.ycyzqzxyh.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.
Go files housing development bill
- ICC postpones Duterte’s confirmation hearing after defense panel cites fitness concerns
- Ballots for oct 13 BARMM polls completed – Comelec
- Putin and Modi in China for summit hosted by Xi
- Palace suspends govt work, classes in several areas due to bad weather
- NATIONAL ARTIST'S HOMETOWN
- NBI slaps Alice Guo, 35 Others with new graft, misconduct cases
- Zelenskyy meets European leaders on Ukraine security guarantees
- Marcos mum on Magalong joining independent commission for DPWH probe
- New Quezon City judge to oversee Dengvaxia vaccine cases, sets hearing
- DOTr denies ordering shutdown of online selling platforms
