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.”
”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., This news data comes from:http://www.ycyzqzxyh.com
Go files housing development bill
- Lacson seeks probe of 2 PH contractors' board members for conflict of interest
- San Juan commemorates first revolution under Spanish rule in 129th Araw ng Pinaglabanan
- Supreme Court urged to act on fake complaints
- Lacson to govt: Protect education budget
- US appeals court finds Trump's global tariffs illegal
- An AI simulation of a Mount Fuji eruption is being used to prepare Tokyo for the worst
- Customs finds only 2 luxury cars at contractor's compound in Pasig
- Makati distributes Blu Card cash aid
- US strike marks shift to military action against drug cartels
- BIR to audit contractors flagged for ghost flood projects for tax fraud — BIR
