SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://lvtc-vm-aqam-le.gangzhifhm.com
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.
Go files housing development bill
- Prompt release of educational aids sought
- Escudero says new lease law to make PH more appealing to investors
- Epstein victims compiling list of sexual abusers
- Social media erupts: Politicians' children face backlash for flaunting wealth
- Malacañang calls plot to jail VP Duterte 'wild imagination'
- Drug war victims’ groups slam postponement of ICC hearing on Duterte
- Modi, Ishiba agree to boost economic ties
- Marcos wants subpoena power for body investigating flood projects
- Gasoline, diesel prices to increase again next week
- Comelec to open nearly two-year overseas voter registration for 2028 elections
