SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://705-888.com
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.
- Afghanistan earthquake kills more than 800
- 15 people hospitalized after double-decker bus crashes outside London's Victoria Station
- Israel ups pressure on Gaza City
- Discayas to file raps vs protesters, will attend Senate hearing — lawyer
- PH, Australia hold live fire drills during ALON 2025 in Nueva Ecija
- Marcos leads oath taking of new officers of League of Provinces of the Philippines
- Thai tycoon takes office as PM after royal endorsement
- Australia halts logging for koala haven on eastern coast
- DILG to roll out nationwide unified 911 hotline on Sept. 11
- Pasig City continues barangay aid for efficiency, ends patronage politics
