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://dkd.705-888.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.
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.”
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.
- 'Ondoy'-level rains swamp Quezon City
- Cambodia MPs pass law allowing stripping of citizenship
- Lacson: House can't return proposed 2026 budget to Palace
- Trump tells Europe to put economic pressure on China over Ukraine
- Dial 911: New nationwide emergency hotline to go live on Sept. 11
- LTO summons driver who berated MMDA enforcer
- PNP chief Torre relieved, Nartatez to take over
- Berlin urges Israel to 'immediately' improve humanitarian conditions in Gaza
- 1 in 4 people lack access to safe drinking water — UN
- Marcos to attend UN meet in New York in Sept- Palace
