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.052298.com
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.
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.”
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.
- SpaceX cancels Starship megarocket launch in latest setback
- Emma Tiglao crowned Miss Grand PH 2025
- PNP chief leads fun run
- Mob burns Nigerian woman to death over Islam blasphemy claim — police
- House resolution filed to investigate 'funders' of anomalous projects
- ICC clears applications of 15 drug war victims to join proceedings vs Duterte
- Marcos suspends importation of regular, well-milled rice for 60 days
- Comelec en banc upholds cancelation of Duterte Youth Party-List registration
- DMW: 19 distressed OFWs return home from Jeddah
- PH Defense chief slammed for 'bad mouthing' China
