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://xqw.052298.com
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.”
Go files housing development bill
”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.
- Israel military says controls 40 percent of Gaza City
- Mandela grandson says he will join Gaza aid boat
- US strike marks shift to military action against drug cartels
- Bonoan freezes DPWH travel passes
- Comelec to open nearly two-year overseas voter registration for 2028 elections
- NATIONAL ARTIST'S HOMETOWN
- IBP to form good governance panel
- Pangilinan urges Marcos Jr. to prioritize bill aiding farmers, fishermen
- Marikina City chief of police relieved
- COA launches sweeping audit of flood control projects
