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://gyglfs.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.”
”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.
Go files housing development bill
- Heavy rains flood parts of Metro Manila anew
- Bonoan resigns, Dizon named DPWH chief
- Customs recovers 10 more Discaya luxury cars
- Xi meets Modi as China and India seek to rebuild ties
- Filipino member of AHOF K-pop group says Manila concert a dream come true
- AFP: It would take more than a tugboat to tow BRP Sierra Madre from Ayungin Shoal
- Pagasa sees cyclone-free week across PH
- SpaceX cancels Starship megarocket launch in latest setback
- PH has chance of getting UNSC seat - Manalo
- Some areas in Metro Manila, Bulacan, Quezon to have power interruptions due to maintenance work
