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.
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.”, This news data comes from:http://www.erlvyiwan.com
Go files housing development bill
”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.
- PH, Japan conduct search and rescue exercises
- Xi and Putin's hot mic moment: How long will science extend the human life span?
- Pope demands end to 'collective punishment' and forced displacement of Palestinians in Gaza
- Pagasa: Trough of LPA, 'habagat' will bring rain, thunderstorms across PH
- PH, Australia, Canada hold joint sea drills
- Cusi charged over Malampaya deal
- US Spirit Airlines files for bankruptcy again
- LPA off Leyte has low chance of becoming cyclone within 24 hours —Pagasa
- Marcos orders 'sweeping review' of DPWH budget under 2026 NEP
- Suspect in 2012 killing of Dutch aid worker freed
