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.”, This news data comes from:http://www.gangzhifhm.com
”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.
- Israel city honors Quezon’s wartime rescue of Jews
- Marcos declares holidays for 2026
- Former Bulacan district engineer admits going to casinos
- ‘Lannie’ to bring rain over NLuzon, southwest monsoon to affect Metro Manila, Calabarzon, Mimaropa —Pagasa
- Indonesia's delayed new capital risks 'white elephant' status
- Over 800 killed as quake rocks Afghanistan
- Russian drone, missile attack kills 14, injured 48 in Kyiv
- China is showing off its weaponry in a tightly controlled military parade
- Marcos says commission on DPWH anomalies to be finalized 'very soon,' mum on Magalong participation
- LPA may still develop into short-lived tropical cyclone
