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.
- Trump move to cut more foreign aid risking shutdown
- PH, Australia hold live fire drills during ALON 2025 in Nueva Ecija
- Bishops demand broad probe into flood project corruption
- Bonoan freezes DPWH travel passes
- Govt debt swells to record P17.58T
- Alice Guo faces new cases over POGO land
- Earthquake kills 250, injures 500 in Afghanistan
- Palace: Govt monitoring Chinese sleeper agents, PLA presence in PH
- UP journalism professor chides Rep. Gomez over ‘media spin’ claims
- Some areas in Metro Manila, Bulacan, Quezon to have power interruptions due to maintenance work
