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.
Go files housing development bill, This news data comes from:http://va-mla-lj-ogv.erlvyiwan.com
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
- Recto: No exemption for US tech firms from digital tax
- Gloria Arroyo files bill to empower Office of the Vice President
- 25,000 Filipinos register for Pag-IBIG's Expanded 4PH Housing Program
- Konektadong Pinoy bill lapses into law
- Veteran Thai politician Anutin Charnvirakul wins vote in Parliament to become next prime minister
- SSS hails Marcos, Recto for initiating pension reforms, including one to be rolled out in Sept
- Marcos orders lifestyle checks on all government officials amid flood control probe
- One in four people lack access to safe drinking water – UN
- Russian drone, missile attack kills 14, injured 48 in Kyiv
- Konektadong Pinoy Bill has lapsed into law — Palace
