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.
Go files housing development bill
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.705-888.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.
- Nartatez rules out 'quota' arrests
- Thailand's former Prime Minister Thaksin makes surprise departure ahead of a risky court ruling
- Marcos orders 'sweeping review' of DPWH budget under 2026 NEP
- Guyana votes amid oil boom, Venezuela tensions
- No winner in lotto draws for Aug 28
- PNP chief leads fun run
- Escudero subpoenaes 10 DPWH contractors for Senate probe next week
- DILG to roll out nationwide unified 911 hotline on Sept. 11
- Searchers retrieve bodies as Afghan quake toll seen to rise
- Seoul says over 300 South Koreans held in US battery plant site raid
