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://xyr-jp-mqd-oafk.ycyzqzxyh.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.
- Marcos urged to raise WPS resolution at UN
- ‘Lannie’ will bring rain showers, thunderstorms over North Luzon —Pagasa
- Housing secretary declares 'zero-tolerance' policy on corruption
- Lawmaker linked to anomalous flood control projects in US for medical reasons, says House spokesman
- 25,000 Filipinos register for Pag-IBIG's Expanded 4PH Housing Program
- South Korea's Lee faces pivotal test at first summit with Trump
- Tokyo protests to Beijing over gas field in East China Sea
- 100K Pakistanis flee amid flood threat
- India will not 'bow down,' trade minister says after US tariffs
- Bonoan freezes DPWH travel passes
