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.
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://kyicgb.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.
- Trump moves to limit US stays of students, journalists
- WorldSkills Asean Manila begins
- DILG suspends classes, gov’t work in 17 areas
- Heart Evangelista faces scrutiny over lifestyle as husband loses Senate presidency
- NACC renews appeal: Adopt neglected kids
- Malabon averts crisis with garbage deal
- PH, Australia hold live fire drills during ALON 2025 in Nueva Ecija
- Customs recovers 10 more Discaya luxury cars
- Catholic, Greek Orthodox clergy to stay in Gaza City to help weakest
- Angkas supports DICT's amnesty program for unregistered delivery services
