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.
Go files housing development bill
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., This news data comes from:http://uukv-loqw-jtcj-echi.ycyzqzxyh.com
- Gaza at 'breaking point,' says UN food agency chief after visit
- Navotas inks deal for school feeding project
- SSS pension reform program starts in September
- Sen. Pangilinan Advocates for Credit-Worthy Farmers to Boost Agriculture Sector
- Anutin elected as Thailand's new prime minister
- 2028 polls overseas voter registration opens in Dec
- Comelec: Postponed village, youth elections not in 2026 budget
- 'Strangest' dinosaur covered in spiked armory — Scientists
- Two dead as strong earthquake jolts Afghanistan
- Pope declares 'God's influencer' first millennial saint
