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., This news data comes from:http://ybfkibgw.ycyzqzxyh.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.
Go files housing development bill
- Some areas in Metro Manila, 5 provinces to have power interruptions due to maintenance works
- Pag-IBIG: More than 25k register for socialized housing units under Expanded 4PH
- International media protest over journalist deaths in Gaza
- Trump stamps 'dictator chic' on Washington
- Marcos leads oath taking of new officers of League of Provinces of the Philippines
- BIR to audit contractors flagged for ghost flood projects for tax fraud — BIR
- Go seeks more support for Filipino athletes
- Palace slams Discaya couple's denial in Film Heritage Building debacle
- UK police arrest hundreds in latest Palestine Action demo
- Group presses DA on delayed fertilizer subsidies
