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.
Go files housing development bill
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://705-888.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.
- ALPAS Consultancy bags five awards in Philippine Quill debut
- Veteran Thai politician Anutin Charnvirakul wins vote in Parliament to become next prime minister
- Social pension eyed for indigent seniors
- Pagasa monitors 2 LPAs inside PAR; prevailing 'habagat' brings rain across PH
- PH, Australia hold live fire drills during ALON 2025 in Nueva Ecija
- 100K Pakistanis flee amid flood threat
- SSS hails Marcos, Recto for initiating pension reforms, including one to be rolled out in Sept
- Tourists dice with danger on Hanoi's train street
- Duterte lawyers take aim at ICC prosecutor
- 'God's Influencer' to become first millennial saint
