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.
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://edhftguv.erlvyiwan.com
- La Niña may return but temperatures will remain high, UN says
- House bill seeks to regulate AI use
- 'Large shark' kills man off Sydney beach
- Alice Guo faces new cases over POGO land
- Former DPWH chief denies links to corruption
- Escudero subpoenaes 10 DPWH contractors for Senate probe next week
- Public Works chief to press criminal charges against Bulacan engineer
- PH Construction Board asked to address 'accreditation for sale' scandal
- ‘God’s Influencer’ to become first millennial saint
- Bonoan resigned due to command responsibility — Marcos
