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.
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
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., This news data comes from:http://br-wo-jxik-wt.771bg.com
- Customs preparing report on Discayas’ 28 luxury cars
- 4 of 15 contractors on Marcos list have clean records – DPWH
- Public Works chief to press criminal charges against Bulacan engineer
- Former Bulacan district engineer admits going to casinos
- House justice panel to probe US' extradition request for Quiboloy
- President Marcos Jr. visits Cambodia to strengthen ties
- House holds budget review with 21 civil society organizations
- Workers urge Marcos to stop corruption by banning political dynasties
- 25 countries suspend postal services to US over tariffs – UN
- Thousands protest in Indonesia as military deployed in capital
