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://cp-kp-wsds-pemw.gyglfs.com
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.
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.
- Indonesia hosts annual US-led combat drills with Indo-Pacific allies
- Pag-IBIG: More than 25k register for socialized housing units under Expanded 4PH
- Tax bureau hunts down contractors over questionable flood control deals
- Hontiveros pushes P15,000 salary hike for teachers
- Marcos, first lady visit Cambodia to boost ties
- Escudero says new lease law to make PH more appealing to investors
- 1 of 2 suspects in Pasay robbery, rape arrested
- Immigration: 1st lookout bulletin in effect on 35 individuals, including Discayas, linked to anomalous flood control projects
- LTO told to summon 2 DPWH engineers with fake driver’s license
- Petitioners challenge claim NAIA fees lowest in Southeast Asia
