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.
Go files housing development bill, This news data comes from:http://sbll-spb-gqhs-cywd.erlvyiwan.com
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation.
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.
- NACC renews appeal: Adopt neglected kids
- La Niña forecast from Sept-Dec, expect more tropical cyclones, above normal rainfall -- Pagasa
- House probe tackles flood control corruption: Lawmakers disclose conflicts of interest
- Sara mum, but brother thinks Torre removal due to PNP's 'internal conflicts'
- Galvez to MILF: Resolve divisions, protect Bangsamoro peace gains
- Duterte Youth brings Comelec cancelation battle to Supreme Court
- Pope Leo meets LGBTQ+ Catholic advocate and vows continuity with Pope Francis' legacy of welcome
- Lookout bulletins out vs Atong Ang, Barretto
- PAL plane bound for Osaka returns to Manila due to 'emergency' situation
- Zelenskyy meets European leaders on Ukraine security guarantees
