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
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., This news data comes from:http://www.ycyzqzxyh.com
Go files housing development bill
- Emma Tiglao crowned Miss Grand PH 2025
- Indonesia's delayed new capital risks 'white elephant' status
- BIR to audit contractors flagged for ghost flood projects for tax fraud — BIR
- Vico Sotto could challenge VP Sara in 2028 race – survey
- Thailand acting PM moves to dissolve parliament — party
- Searchers retrieve bodies as Afghan quake toll seen to rise
- 9 dead in Ecuador after bus plunges into ravine
- ‘Gomez ignorant of how media works’
- China to bolster non-Western alliances at summit, parade
- Two dead as strong earthquake jolts Afghanistan
