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., This news data comes from:http://www.gyglfs.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.
- Lacson to govt: Protect education budget
- Kanlaon Volcano spews ash
- Motive probed for US church shooting that killed 2 children, injured 17
- Sarah Discaya grilled by Senate over alleged DPWH links
- Artikulo Onse' group calls for independent panel to probe flood control corruption
- Diokno urges Philippines to rejoin ICC to counter China's aggression
- Oil firms to raise pump prices Tuesday
- Some National Guard units in Washington are now carrying firearms in escalation of Trump deployment
- 'Ondoy'-level rains swamp Quezon City
- 2028 polls overseas voter registration opens in Dec
