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://dk-rgq-jae-pud.771bg.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.”
”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.
Go files housing development bill
- Japan accelerates missile deployment amid rising regional tensions
- DPWH exec fired, 2 others face dismissal over flood control mess
- More funding sought for sports commission
- Israeli strikes in Yemen's capital kill six, Houthis say
- PH, Australia hold live fire drills during ALON 2025 in Nueva Ecija
- Prompt release of educational aids sought
- Aftershocks rumble quake-hit Afghanistan as death toll tops 1,400
- Estrada, Villanueva tagged in flood control mess, 'SOP was 30%'
- Supreme Court censures Marikina judge over parking dispute with PAO lawyer
- Opponents of Japan PM seek leadership contest
