SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://iaix-vy-lcep-epi.052298.com
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.
Go files housing development bill
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.
- Vico Sotto could challenge VP Sara in 2028 race – survey
- Vietnam evacuates thousands ahead of Typhoon Kajiki
- Duterte Youth brings Comelec cancelation battle to Supreme Court
- US halts 80% complete, huge offshore wind farm
- Zelenskyy meets European leaders on Ukraine security guarantees
- Lacson: House can't return proposed 2026 budget to Palace
- DILG denies claims ex-PNP chief ousted over firearms purchase
- 'Large shark' kills man off Sydney beach
- No winner in lotto draws for Aug 30
- 'Pink and green' protests call for a reset in Indonesia
