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.”
Go files housing development bill
”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.
Go files housing development bill, This news data comes from:http://cmppp.xs888999.com
- MMDA inks deal with DBM for G-3 program
- CBCP president urges Israel to stop military operations in Gaza
- Public Works Chief Vince Dizon demands courtesy resignations to 'clean house'
- PH, Australia hold live fire drills during ALON 2025 in Nueva Ecija
- Argentine police recover Nazi-looted painting spotted in property ad
- North Korea's Kim oversees ICBM engine test — state media
- MMDA prepares for PH hosting of FIVB
- Berlin urges Israel to 'immediately' improve humanitarian conditions in Gaza
- Filipino member of AHOF K-pop group says Manila concert a dream come true
- 4 policemen linked to sabungero case slapped with more administrative cases
