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://idf-tm-yeit-klno.771bg.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.
- Putin lands in Tianjin for summit hosted by China
- Marcos orders lifestyle checks on all government officials amid flood control probe
- Major road closures in Manila announced for 2025 Bar Examinations
- San Juan commemorates first revolution under Spanish rule in 129th Araw ng Pinaglabanan
- Lacson: House can't return proposed 2026 budget to Palace
- Xi meets Modi as China and India seek to rebuild ties
- AboitizPower pushes growth with clean, renewable energy
- SpaceX cancels Starship megarocket launch
- Nepal to block unregistered social media platforms – govt
- 13 massage therapists robbed, 2 cry rape
