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.
Go files housing development bill, This news data comes from:http://rf.redcanaco.com
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.
- Escudero says new lease law to make PH more appealing to investors
- Labubu fans flock to stores after launch of mini dolls
- Vico Sotto could challenge VP Sara in 2028 race – survey
- Palace hits Discayas over ‘misinformation’ on PH film center project
- Dizon to order DPWH officials to submit courtesy resignation
- Marcos confers diplomatic merit award on two ambassadors
- Go files housing development bill
- Duterte defense files more motions challenging ICC prosecutor
- President Marcos to attend 80th UN General Assembly in New York
- Comelec upholds cancelation of Duterte Youth registration
