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.
Go files housing development bill, This news data comes from:http://ixnu-fyx-vwi-so.705-888.com
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.”
”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.
- NKorea's Kim tells Xi hopes to 'steadily develop' ties – KCNA
- Repairs on Chinese ship in Bajo de Masinloc collision may take 2 months - PH Navy
- Manila Water announces service disruption for over 12K households in Mandaluyong due to leak repair
- DoTr seeks higher budget for 2026, requests P531B amid cuts
- NKorea could produce ten to twenty nukes per year — SKorea leader
- Vatican puts Pope Francis' ecological preaching into practice with vocational farm center
- Former PNP chief Torre III offered new government post
- Nartatez rules out 'quota' arrests
- OVP ready to submit to lifestyle check if ordered, no word from Sara
- Need to pee? Japan has QR code for that
