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, This news data comes from:http://www.erlvyiwan.com
”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.
- Floods kill over 30 in Indian-controlled Kashmir, displace 150,000 in east Pakistan
- US appeals court finds Trump's global tariffs illegal
- Rep. Tiangco reveals P17B flood control allocations linked to former appropriations chairman Rep. Zaldy Co
- UK refuses to invite Israeli government officials to London arms fair over the war in Gaza
- Sara Duterte calls DPWH flood control Inquiry a 'Zarzuela'
- 25,000 Filipinos register for Pag-IBIG's Expanded 4PH Housing Program
- CFO office moves from Quezon City to Pasay
- NATO members to reach 2% defense spending goal this year
- PH to see ‘blood moon’ Sept. 7-8
- Protesters storm Discaya office in Pasig to demand accountability for 'ghost flood control projects'
