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.
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.
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.”
”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://www.erlvyiwan.com
- Comelec delays implementation of decision disqualifying Duterte Youth Party-List
- Chinese sleeper agents' and PLA operatives a threat, Lacson warns
- Japan govt seeks to triple spending on drones
- UK, Japan, South Korea endure hottest summer on record
- Majority of Filipinos unaware of vote buying in 2025 elections, OCTA survey shows
- Famed streetcar in Lisbon, Portugal, derails and crashes, killing 15 people
- Giovanni Lopez pledges to continue and expand DOTr reforms
- Pump prices go up
- International media protest over journalist deaths in Gaza
- Navotas inks deal for school feeding project
