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.
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.”, This news data comes from:http://xs888999.com
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.
Go files housing development bill
- Putin tells Xi China-Russia ties are at 'unprecedented level'
- Marcos signs laws declaring holidays across PH
- Marcos declares holidays for 2026
- Marcos to attend UN meet in New York in Sept- Palace
- Corruption crackdown: VP Sara Duterte, lawmakers call for deeper probe into government
- LPA over West PH Sea develops into tropical depression, now called ‘Jacinto’ -- Pagasa
- Bolsonaro verdict looms as Brazil coup trial closes
- LPA trough, 'habagat' to bring rains in parts of Luzon, including Metro Manila
- North Korea's Kim in China ahead of massive military parade
- Strikes across Gaza Strip kill at least 31 as international scholars accuse Israel of genocide
