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.
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.
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://kpg.771bg.com
”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.
- President Marcos commits to boosting PH digital infrastructure
- Zelenskyy seeks talks with Trump and European leaders on slow progress of peace efforts with Russia
- Pope Leo: We must listen first before speaking
- Malabon shifts garbage disposal to Rizal landfill after Navotas closure
- 100K Pakistanis flee amid flood threat
- Cusi charged over Malampaya deal
- Court orders Immigration to release of Global Ferronickel Chairman Joseph Sy
- Japan accelerates missile deployment amid rising regional tensions
- Berlin urges Israel to 'immediately' improve humanitarian conditions in Gaza
- Alice Guo faces new cases over POGO land
