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.
Go files housing development bill
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, This news data comes from:http://rhcmf.erlvyiwan.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.
- Philippine forces deliver supplies and personnel to disputed South China Sea shoal despite tensions
- President Marcos commits to boosting PH digital infrastructure
- Lookout bulletins out vs Atong Ang, Barretto
- Cambodia MPs pass law allowing stripping of citizenship
- DPWH Secretary Dizon vows to slash 'staggering' P268B flood control budget
- DPWH engineer denies role in Bulacan flood control ‘ghost projects’
- Wildfires producing 'witches' brew' of air pollution – UN
- Makati earns high rating in anti-trafficking and violence assessment
- Marcos willing to submit to a lifestyle check
- Sotto files bill to amend party-list system
