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.
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation., This news data comes from:http://redcanaco.com
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.
- India's Modi meets Japan's Ishiba as he begins Asia tour
- ALPAS Consultancy bags five awards in Philippine Quill debut
- Comelec upholds cancelation of Duterte Youth registration
- 'God's Influencer' to become first millennial saint
- Pope demands end to 'collective punishment' and forced displacement of Palestinians in Gaza
- ₱1.7M shabu seized in Taguig buy-bust
- Eala ousts Day, enters Guadalajara Open final
- Comelec en banc upholds cancelation of Duterte Youth Party-List registration
- 2028 polls overseas voter registration opens in Dec
- PH Army showcases disaster response capabilities before Thai defense officials
