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., This news data comes from:http://vbvstoi.gyglfs.com
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.
- Searchers retrieve bodies as Afghan quake toll seen to rise
- La Niña forecast from Sept-Dec, expect more tropical cyclones, above normal rainfall -- Pagasa
- House party leaders want to return proposed 2026 budget to Executive
- Tokyo logs record 10 days of 35 C or higher
- ‘Lannie’ will bring rain showers, thunderstorms over North Luzon —Pagasa
- 100K Pakistanis flee amid flood threat
- UN force in Lebanon slams Israeli drone attack on peacekeepers
- Indonesian finance minister's home looted as protest anger grows
- Ukraine eyes defense deal with PH that includes co-production of drones, says envoy
- Sotto takes oath as Senate president
