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://www.aichuwei.com
- Israel ups pressure on Gaza City as Trump talks post-war plan
- Luzon dams release water due to southwest monsoon
- India will not 'bow down,' trade minister says after US tariffs
- DPWH fires Bulacan engineers, blacklists contractors over anomalous projects
- Artikulo Onse' group calls for independent panel to probe flood control corruption
- Boy killed, mother injured in Pasig fire
- IBP forms committee on good governance to probe corruption
- Russian drone, missile attack kills 14, injured 48 in Kyiv
- House suspends DPWH budget deliberations pending submission of changes by agency, DBM
- Major road closures in Manila announced for 2025 Bar Examinations
