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.
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., This news data comes from:http://fi-qd-so-ad.erlvyiwan.com
- Comelec to open nearly two-year overseas voter registration for 2028 elections
- Rep. Tiangco reveals P17B flood control allocations linked to former appropriations chairman Rep. Zaldy Co
- US senators to reinforce 'partnership' with Taiwan
- Inflation up 1.5% in August
- Hopes fading for Putin, Zelenskyy peace summit
- Pakistanis no reprieve from floods yet
- Navotas inks deal for school feeding project
- South Korea's Lee faces pivotal test at first summit with Trump
- Pope declares 'God's influencer' first millennial saint
- Supreme Court: It’s work as usual in judiciary
