SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go files housing development bill
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://ecti.xs888999.com
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.
- Lacson: House can't return proposed 2026 budget to Palace
- 4 policemen linked to sabungero case slapped with more administrative cases
- Peru’s ex-president Toledo gets a second sentence in the Odebrecht corruption scandal
- Duterte Youth brings Comelec cancelation battle to Supreme Court
- France seized by fears of new political crisis
- Magnitude 5.1 earthquake rattles Surigao del Sur
- Alex Eala makes history With comeback victory at US Open
- DSWD allocates P6.2B for livelihood program
- Epstein victims compiling list of sexual abusers
- Super Sale: Pag-IBIG offers 40% off on foreclosed assets
