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://mf.erlvyiwan.com
- House suspends DPWH budget deliberations pending submission of changes by agency, DBM
- Fire breaks out in Manila residential area
- Trump escalates crackdown threats with Chicago 'war' warning
- New law lets foreigner investors lease land for 99 years
- Madagascar welcomes home skulls of Indigenous warriors taken by French colonial troops 128 years ago
- SSS pension reform program starts in September
- May 12 poll results accurate, credible - OCTA Research
- Marcos signs laws declaring holidays across PH
- Emma Tiglao crowned Miss Grand PH 2025
- Japan PM decides to quit as opponents seek leadership election: reports
