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.
Go files housing development bill
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.”, This news data comes from:http://myv.aichuwei.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.
- BIR to audit contractors flagged for ghost flood projects for tax fraud — BIR
- DPWH exec asked lawmaker to make budget insertions — Lacson
- Nartatez vows fair assignments, better resource management as new PNP chief
- Comelec probes 15 contractors for illegal campaign donations
- Galvez to MILF: Resolve divisions, protect Bangsamoro peace gains
- India will not 'bow down,' trade minister says after US tariffs
- Sotto takes oath as Senate president
- Govt monitoring Chinese ‘sleeper agents’ in PH
- Catholic, Greek Orthodox clergy to stay in Gaza City to help weakest
- Indonesia's delayed new capital risks 'white elephant' status
