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://erlvyiwan.com
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.
Go files housing development bill
- Social media erupts: Politicians' children face backlash for flaunting wealth
- Protesters storm Discaya compound, Sotto calls for calm
- Sara slams govt corruption probe as a 'political zarzuela,' to meet with Robredo at Bicol festival
- Five journalists among 20 killed in Israeli strikes on Gaza hospital
- Discaya’s construction companies competed against each other during biddings
- Rep. Tiangco reveals P17B flood control allocations linked to former appropriations chairman Rep. Zaldy Co
- New DPWH chief Dizon: "A department can't investigate itself"
- Discaya says her family owns nine companies
- Labubu fans flock to stores after launch of mini dolls
- India to cut taxes on hundreds of consumer goods to boost local demand following steep US tariffs
