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
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.
- Thousands protest in Indonesia as military deployed in capital
- SpaceX cancels Starship megarocket launch in latest setback
- Marcos, first lady visit Cambodia to boost ties
- Govt eyes charges vs Discayas over 'unfinished' PH Film Heritage Building
- House panel defers 2026 DPWH budget until agency submit changes
- Pope Leo: We must listen first before speaking
- Diokno urges Philippines to rejoin ICC to counter China's aggression
- Marcos leads oath taking of new officers of League of Provinces of the Philippines
- Corruption crackdown: VP Sara Duterte, lawmakers call for deeper probe into government
- Youth group to SC: Stop postponement of BSKE
