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., This news data comes from:http://euyoemg.gyglfs.com
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.
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.
- An AI simulation of a Mount Fuji eruption is being used to prepare Tokyo for the worst
- Islamic State claims deadly attack on Pakistan rally
- Super Sale: Pag-IBIG offers 40% off on foreclosed assets
- NACC renews appeal: Adopt neglected kids
- Xi slams 'bullying' in speech to regional leaders at summit
- Taiwan: China illegally deploying oil rigs in its waters
- DoTr seeks higher budget for 2026, requests P531B amid cuts
- Afghan quake death toll surges to over 2,200
- Ukraine says Russia linked to lawmaker's killing
- Labubu fans flock to stores after launch of mini dolls
