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., This news data comes from:http://www.gangzhifhm.com
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.”
Go files housing development bill
”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.
- Thailand set for vote on new PM after dissolution bid rejected
- Pagasa sees two to four tropical cyclones hitting Philippines in September
- San Juan commemorates first revolution under Spanish rule in 129th Araw ng Pinaglabanan
- Some National Guard units in Washington are now carrying firearms in escalation of Trump deployment
- US agents arrest 475 in Hyundai-LG plant raid
- Workers urge Marcos to stop corruption by banning political dynasties
- Lacson to Marcoleta: I don’t want a fight but I won’t back down from one
- Emma Tiglao crowned Miss Grand PH 2025
- Filipino member of AHOP K-pop group says Manila concert a dream come true
- India will not 'bow down,' trade minister says after US tariffs
