SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://www.gangzhifhm.com
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.
- Tokyo protests to Beijing over gas field in East China Sea
- Unnamed skeletons? US museum at center of ethical debate
- Marcos lauds Filipinos for role in nation building on National Heroes Day
- House panel defers 2026 DPWH budget until agency submits changes
- Nartatez to reassign Torre if he won't retire, says they're 'okay'
- DILG to roll out nationwide unified 911 hotline on Sept. 11
- 1 of 2 suspects in Pasay robbery, rape arrested
- Sarah Discaya grilled by Senate over alleged DPWH links
- More funding sought for sports commission
- Sara says govt corruption probe a 'zarzuela,' plans to meet Robredo im Bicol festival
