SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
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.”, This news data comes from:http://vg.jyxingfa.com
”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.
- Mexican senators come to blows after heated debate
- ‘Gomez ignorant of how media works’
- Motive probed for US shooting that killed two children, injured 17
- Students, faculty file complaint against Universidad de Manila president
- Marcos soon to create commission to probe flood control projects
- US appeals court finds Trump's global tariffs illegal
- DFA: No US extradition request for Quiboloy
- Protesters storm Discaya office in Pasig to demand accountability for 'ghost flood control projects'
- Major road closures in Manila announced for 2025 Bar Examinations
- ICC postpones Duterte’s confirmation hearing after defense panel cites fitness concerns
