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://dufu-eymm-dkto-pib.gangzhifhm.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.
- Mob burns Nigerian woman to death over Islam blasphemy claim — police
- Madagascar welcomes home skulls of Indigenous warriors taken by French colonial troops 128 years ago
- Venezuela deploys warships, drones as US destroyers draw near
- Rep. Tiangco reveals P17B flood control allocations linked to former appropriations chairman Rep. Zaldy Co
- EU massive fine against Google draws Trump threat
- 25 countries suspend postal services to US over tariffs – UN
- Afghanistan earthquake kills more than 800
- MMDA prepares for PH hosting of FIVB
- PNP chief supports lowering age of discernment
- Meeting South Korea, Trump could eye new chance with North
