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., This news data comes from:http://ycyzqzxyh.com
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.
Go files housing development bill
- 'Mockery of science': US experts blast Trump climate report
- House panel defers 2026 DPWH budget until agency submits changes
- Palace hits Discayas over ‘misinformation’ on PH film center project
- Need to pee? Japan has QR code for that
- PH eyes global partners in biggest railway project
- Govt debt swells to record P17.58T
- Duterte Youth brings Comelec cancelation battle to Supreme Court
- Actress Angel Aquino victim of 'deepfake,' seeks prosecution of perpetrators of cyber pornography
- Gaps in healthcare services remain - study
- Wawao Builders exec ‘not sure’ if company has flood control project in Bulacan
