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.”, This news data comes from:http://gangzhifhm.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.
- Pope Leo XIV to Israeli president: 2-state solution needed to end Gaza war
- Gaps in healthcare services remain - study
- House panel defers 2026 DPWH budget until agency submits changes
- DBP launches P50M program for education
- Anutin elected as Thailand's new prime minister
- 25,000 Filipinos register for Pag-IBIG's Expanded 4PH Housing Program
- New mining law to balance profit, ecology
- Filipino member of AHOP K-pop group says Manila concert a dream come true
- Comelec completes ballot printing for Bangsamoro elections despite redistricting dispute
- NKorea's Kim tells Xi hopes to 'steadily develop' ties – KCNA
