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.
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.”
Go files housing development bill, This news data comes from:http://cnvjyryx.gangzhifhm.com
”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.
- Thai woman jailed for 43 years for lese majeste freed
- COA launches sweeping audit of flood control projects
- Court rules on subdivision open spaces, road lots
- Israel tells residents to leave Gaza City ahead of offensive
- Some areas in Metro Manila, Bulacan to have brownouts due to maintenance work
- 2 policemen placed under preventive custody for allegedly molesting a female colleague in Marikina
- One in four people lack access to safe drinking water – UN
- Pope Leo XIV to Israeli president: 2-state solution needed to end Gaza war
- PH to host seafarers’ welfare forum
- US church shooter 'obsessed with idea of killing children'
