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.
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://771bg.com
- Supreme Court: It’s work as usual in judiciary
- UK refuses to invite Israeli government officials to London arms fair over the war in Gaza
- Nepali court: Hindu holy men's nudity not obscene
- House panel defers 2026 DPWH budget until agency submits changes
- Ukraine drone attacks spark fires at Russia's Kursk nuclear plant, Novatek's Ust-Luga terminal.
- Pasig fire kills child, injures mother as she tries to save him
- Mexican boxer Chavez Jr. released from prison pending trial
- 17 House lawmakers press Marcos administration to raise WPS issue to UN
- Marcos names acting Ombudsman
- Putin and Modi in China for summit hosted by Xi
