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.
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., This news data comes from:http://pisnpv.gyglfs.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.”
”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.
- SSS pension reform program starts in September
- PH, Australia, Canada hold maritime drills in West Philippine Sea
- DMW, pharmaceutical firm sign agreement to boost access to medicines, hospital services for OFWs, families
- Searchers retrieve bodies as Afghan quake toll seen to rise
- No peace without end to hostilities –Arab bloc
- Marcos names Dizon as DPWH secretary
- Indonesia hosts annual US-led combat drills with Indo-Pacific allies
- Vietnam evacuates thousands ahead of Typhoon Kajiki
- In Taiwan, competing narratives over the meaning of China's massive military show
- Mexican boxer Chavez Jr. released from prison pending trial
