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.
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., This news data comes from:http://il-yk-chei-pb.052298.com
Go files housing development bill
- Rep. Tiangco reveals P17B flood control allocations linked to former appropriations chairman Rep. Zaldy Co
- Napolcom welcomes Nartatez’s move to recall Torre’s reassignments
- SpaceX cancels Starship megarocket launch in latest setback
- ALPAS Consultancy bags five awards in Philippine Quill debut
- LPA has big chance of intensifying into tropical cyclone to be named ‘Kiko’
- Bishops demand broad probe into flood project corruption
- 3 Luzon dams release water
- Discaya companies' licenses revoked for bid-rigging
- Firefighters arrested by US immigration officials
- DPWH seeks lookout bulletin vs officials, contractors in ghost projects
