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.
Go files housing development bill, This news data comes from:http://gyglfs.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.
- Mexican senators come to blows after heated debate
- ₱1.7M shabu seized in Taguig buy-bust
- 500 Internal Server Error
- South Africa's most vulnerable struggle to find HIV medication after US aid cuts
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- Comelec completes ballot printing for Bangsamoro elections despite redistricting dispute
- SpaceX cancels Starship megarocket launch
- 'New' position being offered to Torre — Palace
- Trump stamps 'dictator chic' on Washington
- Lacson clears air over conflict with Marcoleta on flood control probe
