Senator Ferdinand “Bongbong” R. Marcos, Jr. seeks to speed up the processes involved in providing decent and affordable housing for the poor and underprivileged.
For this purpose, Marcos is set to file in the coming 16th Congress his bill amending Section 20 of the Urban Development and Housing Act of 1992 (UDHA).
Marcos said the bill seeks to clarify the process in granting tax incentives to the private sector.
To implement the Urban Housing and Development Program the UDHA law sought the cooperation of the private sector through the grant of fiscal and non-fiscal incentives.
However private developers have complained that the circuitous processes involved make it difficult for them to avail of such incentives and so many of them were not too enthusiastic to participate in the implementation of the Urban Housing and Development Program.
To address such problem, Marcos seeks to clarify in his bill the roles and functions of the Bureau of Internal Revenue, the local government units, and the appropriate housing agencies and strengthen as well their coordination on the matter of certifying projects and transactions that may be covered by and entitled to such incentives.
“Concomitantly, because of the clarified functions of and strengthened coordination between and among the offices concerned, this bill will ultimately achieve the purpose of expediting and rationalizing the registration and titling process of the socialized housing units with the Registers of Deeds,” Marcos said.