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, This news data comes from:http://www.erlvyiwan.com
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.”
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.
- PH, Australia hold live fire drills during ALON 2025 in Nueva Ecija
- NATO members to reach 2% defense spending goal this year
- 'Lannie' exits PH — Pagasa
- Lacson seeks probe of 2 PH contractors' board members for conflict of interest
- North Korea's Kim Jong Un travels to Beijing to watch military parade alongside Putin, Xi Jinping
- NATIONAL ARTIST'S HOMETOWN
- Protesters storm Discaya office in Pasig to demand accountability for 'ghost flood control projects'
- Prompt release of educational aids sought
- La Niña forecast from Sept-Dec, expect more tropical cyclones, above normal rainfall -- Pagasa
- Thai woman jailed for 43 years for lese majeste freed
