SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://erlvyiwan.com
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.
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.
- 'I have no resentment,' says Torre after dismissal as PNP chief
- Mayor Sotto slams Discayas, cites lies, ghost firms, and kickback allegations
- House holds budget review with 21 civil society organizations
- DPWH Secretary Dizon orders perpetual ban of Wawao Builders, Syms Construction for ghost projects
- Lacson: House can't return proposed 2026 budget to Palace
- New Zealand to allow some wealthy foreign investors onto property market
- Ukraine offers to co-produce drones with Philippines for maritime patrols
- Mass housing developers laud Pag-IBIG Fund
- 'Strangest' dinosaur covered in spiked armory — Scientists
- Need to pee? Japan has QR code for that
