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.
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., This news data comes from:http://gangzhifhm.com
- Modi: India, Japan to 'shape the Asian century'
- 9 dead in Ecuador after bus plunges into ravine
- House panel defers 2026 DPWH budget until agency submit changes
- Public Works chief to press criminal charges against Bulacan engineer
- No winner in Grand, Megalotto draws for Aug 27
- Xi says China 'unstoppable' in parade opening speech
- IBP to form good governance panel
- Rep. Tiangco reveals P17B flood control allocations linked to former appropriations chairman Rep. Zaldy Co
- President Marcos to attend 80th UN General Assembly in New York
- UK police arrest hundreds in latest Palestine Action demo
