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., This news data comes from:http://www.771bg.com
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.
- Gasoline, diesel prices to increase by P1 next week
- Labubu fans flock to stores after launch of mini dolls
- 2028 polls overseas voter registration opens in Dec
- DFA: No US extradition request for Quiboloy
- ‘God’s Influencer’ to become first millennial saint
- US strike marks shift to military action against drug cartels
- Japan prince comes of age as succession crisis looms
- Red Cross head says mass evacuation of Gaza City 'impossible'
- Batangas engineer suspended after alleged bribery attempt on congressman Leviste
- Some areas in Metro Manila, 5 provinces to have power interruptions due to maintenance works
