SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://www.771bg.com
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.
Go files housing development bill
- DoJ to begin preliminary investigation into missing cockfighting enthusiasts
- Pope Leo: We must listen first before speaking
- Konektadong Pinoy Bill has lapsed into law — Palace
- Pag-IBIG: More than 25k register for socialized housing units under Expanded 4PH
- Israeli protesters demand hostage deal as cabinet meets
- Trump to blacklist countries for imprisoning Americans
- PH to host seafarers’ welfare forum
- North Korean leader inspects new missile factory ahead of visit to China
- Pope Leo XIV to Israeli president: 2-state solution needed to end Gaza war
- President Marcos Jr. visits Cambodia to strengthen ties
