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, This news data comes from:http://www.aichuwei.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.
- Pasig City continues barangay aid for efficiency, ends patronage politics
- Head of main US health agency abruptly dismissed
- Protesters storm Discaya compound for second straight day
- China's Communist rulers push party role before World War II anniversary
- House party leaders want to return proposed 2026 budget to Executive
- 13 massage therapists robbed, 2 cry rape
- 'I have no resentment,' says Torre after dismissal as PNP chief
- Taiwan: China illegally deploying oil rigs in its waters
- Heavy rain causes flooding, landslides and 8 deaths in Vietnam and Thailand
- Magnitude 5.1 earthquake rattles Surigao del Sur
