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://vsacsa.052298.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.
- President Marcos commits to boosting PH digital infrastructure
- Sotto willing to testify in Senate probe of flood control anomalies if summoned
- Australia to tackle deepfake nudes, online stalking
- A summit and parade in China may signal a geopolitical shift
- Sara mum, but brother thinks Torre removal due to PNP's 'internal conflicts'
- ‘Large shark’ kills man off Sydney beach
- Thai PM Paetongtarn Shinawatra sacked; new turmoil feared
- Two foreigners face trafficking complaint in Pasay City
- Wife of Australian man wanted in police killings urges him to surrender
- Go seeks more support for Filipino athletes
