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., This news data comes from:http://www.052298.com
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.
- PH, Australia hold live fire drills during ALON 2025 in Nueva Ecija
- Giovanni Lopez pledges to continue and expand DOTr reforms
- DPWH chief rejects calls to resign as he vows to probe corruption in flood control projects
- Thailand ruling party moves to dissolve parliament
- Batangas engineer suspended after alleged bribery attempt on congressman Leviste
- AKG chief denies using ‘kidnap’ car for personal purposes
- Philippines to work more closely with US amid regional challenges
- India will not 'bow down,' trade minister says after US tariffs
- Peace efforts in limbo as Kyiv mourns 23 dead
- ‘Gomez ignorant of how media works’
