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., This news data comes from:http://www.gangzhifhm.com
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation.
Go files housing development bill
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.
- Fire breaks out in Manila residential area
- Alex Eala makes history With comeback victory at US Open
- COA flags fraud in P342M Bulacan flood control projects
- Comelec to open nearly two-year overseas voter registration for 2028 elections
- Recto: No exemption for US tech firms from digital tax
- Xi and Putin reaffirm 'old friend' ties in the face of US challenges
- Lacson to govt: Protect education budget
- Trump escalates crackdown threats with Chicago 'war' warning
- UK refuses to invite Israeli government officials to London arms fair over the war in Gaza
- May 12 poll results accurate, credible - OCTA Research
