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://redcanaco.com
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.
- DPWH to revisit budget, to complete revisions within 2 weeks
- Filipino fulfills dream of performing with K-pop group before home fans
- DSWD program reduced hunger
- Duterte Youth brings Comelec cancelation battle to Supreme Court
- 40% of Filipinos are now obese, says Health expert
- New Quezon City judge to oversee Dengvaxia vaccine cases, sets hearing
- Most Filipinos distrust China, see it as biggest threat — OCTA survey
- Macron says 26 countries pledge troops as a reassurance force for Ukraine after war ends
- 15 drug war victims cleared to join Duterte's ICC case
- India to cut taxes on hundreds of consumer goods to boost local demand following steep US tariffs
