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.
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., This news data comes from:http://ptnhavjw.xs888999.com
Go files housing development bill
- PNP disputes China's crime advisory, says Philippines crime rate dropped
- 4 of 15 contractors on Marcos list have clean records – DPWH
- Sen. Pangilinan Advocates for Credit-Worthy Farmers to Boost Agriculture Sector
- Taylor Swift, Travis Kelce engaged
- DSWD program reduced hunger
- Australia to tackle deepfake nudes, online stalking
- 9 dead in Ecuador after bus plunges into ravine
- Macron says 26 countries pledge troops as a reassurance force for Ukraine after war ends
- Duterte Youth brings Comelec cancelation battle to Supreme Court
- Marcos mum on Magalong joining independent commission for DPWH probe
