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.
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.”, This news data comes from:http://pp-lnbh-xs-gj.aichuwei.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.
- DILG to roll out nationwide unified 911 hotline on Sept. 11
- Giovanni Lopez pledges to continue and expand DOTr reforms
- Fears of new political crisis grip France
- Some areas in Metro Manila, Bulacan, Quezon to have power interruptions due to maintenance work
- Chinese warships shadow Philippine, Australian, Canadian drills in Zambales
- Ukraine offers to co-produce drones with Philippines for maritime patrols
- Humanoid robots showcase skills at Ancient Olympia. But they're on a long road to catch up to AI
- Marcos orders lifestyle check on all govt officials amid flood projects probe
- Israel city honors Quezon’s wartime rescue of Jews
- Open mic caught Xi, Putin discussing immortality
