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.”, This news data comes from:http://www.yamato-syokunin.com
”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.
- Marcos willing to submit to a lifestyle check
- DOJ indicts Abra Mining for fraudulent trading
- Discaya’s construction companies competed against each other during biddings
- Marcos opens Hyundai's shipyard in PH
- Nartatez rules out 'quota' arrests
- China displays its weaponry in a tightly controlled military parade
- DPWH told to build evacuation centers
- Ukraine offers to co-produce drones with Philippines for maritime patrols
- Trump withdraws Kamala Harris's Secret Service protection
- ALPAS Consultancy bags five awards in Philippine Quill debut
