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., This news data comes from:http://xs888999.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.
- PAL plane bound for Osaka returns to Manila due to 'emergency' situation
- Emma Tiglao crowned Miss Grand PH 2025
- Woman accused of murdering her children faces New Zealand trial
- Court rules on subdivision open spaces, road lots
- Evicted from their forests, Kenyan hunter-gatherers fight for their rights
- Pasig Mayor Vico Sotto attends House flood control probe
- China 'elephant in the room' at fraught Pacific Islands summit
- PH Navy spots 20 Chinese ships near BRP Sierra Madre
- Macron says 26 countries pledge troops as a reassurance force for Ukraine after war ends
- Monsoon rains flood Mandaluyong, Parañaque — MMDA
