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.
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.”, This news data comes from:http://egyq-tqep-nqaq-msys.aichuwei.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.
- Batangas engineer suspended after alleged bribery attempt on congressman Leviste
- New Zealand to allow some wealthy foreign investors onto property market
- Roxas matriarch, 91
- Mexican drug lord faces life in prison after pleading guilty in US court
- Modi reaffirms India's support for Ukraine peace settlement during call with Zelenskyy
- Islamic State claims deadly attack on Pakistan rally
- Lacson: House can't return proposed 2026 budget to Palace
- DPWH engineer denies role in Bulacan flood control ‘ghost projects’
- WBO champ looms as Pacquiao’s next opponent
- Earthquake in eastern Afghanistan kills at least 610 people and injures 1,300
