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.
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.”
”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., This news data comes from:http://bygkq.redcanaco.com
- UK police arrest hundreds in latest Palestine Action demo
- BIR to audit contractors flagged for ghost flood projects for tax fraud — BIR
- Modi and Putin affirm special relationship as India faces steep US tariffs over Russian oil imports
- Emma Tiglao crowned Miss Grand PH 2025
- Indonesia protests put spotlight on paramilitary police force
- MMDA proposes rainwater facilities in Camp Aguinaldo to mitigate EDSA flooding
- Duterte party's acting chairman charged at Sandiganbayan over Malampaya project
- 15 drug war victims cleared to join Duterte's ICC case
- Israel city honors Quezon’s wartime rescue of Jews
- India warns Pakistan of more cross-border flooding due to heavy monsoon rains
