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., This news data comes from:http://aichuwei.com
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.
- Israel tells residents to leave Gaza City ahead of offensive
- Shooting of Indonesian diplomat in Peru investigated as a contract killing
- Govt eyes charges vs Discayas over 'unfinished' PH Film Heritage Building
- SSS hails Marcos, Recto for initiating pension reforms, including one to be rolled out in Sept
- Some areas in Metro Manila, Bulacan to have brownouts due to maintenance work
- Former DPWH chief denies links to corruption
- Opponents of Japan PM seek leadership contest
- Repairs on Chinese ship in Bajo de Masinloc collision may take 2 months - PH Navy
- House party leaders want to return proposed 2026 budget to Executive
- Marcos, first lady visit Cambodia to boost ties
