SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go files housing development bill
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.”, This news data comes from:http://gyglfs.com
”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.
- Oil firms to raise fuel prices this week
- Major road closures in Manila announced for 2025 Bar Examinations
- PH Construction Board asked to address 'accreditation for sale' scandal
- India's Modi meets Japan's Ishiba as he begins Asia tour
- Artikulo Onse' group calls for independent panel to probe flood control corruption
- Escudero subpoenas 5 contractors, 3 DPWH executives to Senate probe
- Thai PM Paetongtarn Shinawatra sacked; new turmoil feared
- Former Bulacan district engineer admits going to casinos
- New judge to handle Dengvaxia cases named; hearing set
- A summit and parade in China may signal a geopolitical shift
