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://xjewgj.jyxingfa.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.”
Go files housing development bill
”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.
- Hope dwindles for survivors days after deadly Afghan quake
- Quezon City hails directive for national projects to get local permits
- Major road closures in Manila announced for 2025 Bar Examinations
- New DPWH chief Dizon: "A department can't investigate itself"
- Makati earns high rating in anti-trafficking and violence assessment
- CBCP president urges Israel to stop military operations in Gaza
- Manila marks National Heroes Day with job fair
- Trump rebrands Department of Defense as 'Department of War'
- Former president Duterte's health stable despite high blood sugar, says VP Sara
- 'Blood Moon' to rise during total lunar eclipse Sunday night
