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., This news data comes from:http://xs888999.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.”
Go files housing development bill
”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.
- Cambodia MPs pass law allowing stripping of citizenship
- AKG chief denies using ‘kidnap’ car for personal purposes
- Marcos confers diplomatic merit award on two ambassadors
- Guyana votes amid oil boom, Venezuela tensions
- No winner in Grand, Megalotto draws for Aug 27
- House party leaders want to return proposed 2026 budget to Executive
- DOST, SM Supermalls partner to empower businesses with sustainable practices
- Sri Lanka ex-president Wickremesinghe hospitalized after arrest
- Tariffs, migration and cartels will top Rubio's talks in Mexico and Ecuador this week
- SC clarifies rules on land ownership
