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.
Go files housing development bill
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://aichuwei.com
- Marcos opens Hyundai's shipyard in PH
- Gasoline, diesel prices to increase again next week
- Xi and Putin's hot mic moment: How long will science extend the human life span?
- A tale of two cities: San Mateo rejects Manila's trash; Rizal opens landfill to Malabon
- Villanueva: Regularize contractual govt workers
- DFA: No US extradition request for Quiboloy
- Trump moves to end US tariff exemption for small packages
- PH to host seafarers’ welfare forum
- Russian drone, missile attack kills 14, injured 48 in Kyiv
- Pag-IBIG: More than 25k register for socialized housing units under Expanded 4PH
