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://mkvj-cjoy-lwtc-yiod.ycyzqzxyh.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.
- International media protest over journalist deaths in Gaza
- Duterte lawyers take aim at ICC prosecutor
- Discayas to file raps vs protesters, will attend Senate hearing — lawyer
- US appeals court finds Trump's global tariffs illegal
- SpaceX cancels Starship megarocket launch in latest setback
- 25,000 Filipinos register for Pag-IBIG's Expanded 4PH Housing Program
- Co out of country for medical reasons
- DPWH exec fired, 2 others face dismissal over flood control mess
- BIR to audit contractors flagged for ghost flood projects for tax fraud — BIR
- Iran-backed Houthis raid UN offices in Yemen and detain at least 11 employees
