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.
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.”
Go files housing development bill
”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://www.aichuwei.com
- Filipino member of AHOF K-pop group says Manila concert a dream come true
- Made in China? The remarkable tale of Venice's iconic winged lion
- Comelec to open nearly two-year overseas voter registration for 2028 elections
- Philippines to launch shame campaign vs traffic violators
- The rot goes deep: Marcos decries decades-old corruption
- Makati earns high rating in anti-trafficking and violence assessment
- Islamic State claims deadly attack on Pakistan rally
- 2 LPAs monitored inside PAR, bringing rain to Luzon
- Discaya companies' licenses revoked for bid-rigging
- US Spirit Airlines files for bankruptcy again
