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., This news data comes from:http://erlvyiwan.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.
- Senate subpoenas 8 DPWH officials, contractors in flood control probe
- Chinese warships shadow Philippine, Australian, Canadian drills in Zambales
- Cyclone's trough, habagat will bring cloudy skies, rain showers over PH
- Marcos embarks on three-day state visit to Cambodia
- Mob burns Nigerian woman to death over Islam blasphemy claim — police
- Australia to tackle deepfake nudes, online stalking
- Wife and ally of ousted SKorean president indicted by special prosecutors
- Dizon asks DOJ to issue immigration lookout bulletin to 26 DPWH officials and contractors
- Duterte Youth brings Comelec cancelation battle to Supreme Court
- DPWH exec asked lawmaker to make budget insertions — Lacson
