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., This news data comes from:http://nara-nfqe-vc-oolr.jyxingfa.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.
Go files housing development bill
- Konektadong Pinoy Bill has lapsed into law — Palace
- Israeli protesters demand hostage deal as cabinet meets
- Filipino member of AHOP K-pop group says Manila concert a dream come true
- Sen. Go calls for round-the-clock DFA support for OFWs welfare
- Sri Lanka ex-president Wickremesinghe hospitalized after arrest
- Supreme Court: It’s work as usual in judiciary
- Marcos inspects rock shed project in Benguet
- Head of main US health agency abruptly dismissed
- Protesters storm Discaya compound, Sotto calls for calm
- Malaysia warns TikTok vs cyberbullying, deepfakes
