SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
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://mcx-vtvm-vjb-ejfk.aichuwei.com
Go files housing development bill
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.
- 4 policemen linked to sabungero case slapped with more administrative cases
- CFO moves office from QC to Pasay
- Vico encourages citizens on Heroes’ Day to be brave
- Palace to Discayas: Prove allegations
- UN food agency chief says women and children are starving in Gaza and pressed Netanyahu on aid
- Most Filipinos distrust China, see it as biggest threat — OCTA survey
- Pope Leo meets LGBTQ+ Catholic advocate and vows continuity with Pope Francis' legacy of welcome
- Catholic, Greek Orthodox clergy to stay in Gaza City to help weakest
- Makati distributes Blu Card cash aid
- Super Sale: Pag-IBIG offers 40% off on foreclosed assets
