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.
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://dpgr.jyxingfa.com
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.
- Marcos inspects rock shed project in Benguet
- Court orders Immigration to release of Global Ferronickel Chairman Joseph Sy
- Sen. Hontiveros pushes for Philippine Geriatric Center to aid seniors
- Five journalists among 20 killed in Israeli strikes on Gaza hospital
- Marcos willing to submit to a lifestyle check
- Some National Guard units in Washington are now carrying firearms in escalation of Trump deployment
- DICT grants amnesty to unregistered delivery firms
- US Spirit Airlines files for bankruptcy again
- New judge to handle Dengvaxia cases named; hearing set
- Lawmaker linked to anomalous flood control projects in US for medical reasons, says House spokesman
