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, This news data comes from:http://ph-rn-ypxi-poht.771bg.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.”
”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.
- 1.2K pass Electrical Engineers exam
- Indonesia turns down ear-splitting 'haram' street parties
- UK, Japan, South Korea endure hottest summer on record
- Sotto willing to testify in Senate probe of flood control anomalies if summoned
- Thai court dismisses prime minister over compromising phone call with Cambodian leader
- Lookout bulletins out vs Atong Ang, Barretto
- 25,000 Filipinos register for Pag-IBIG's Expanded 4PH Housing Program
- Supreme Court censures Marikina judge over parking dispute with PAO lawyer
- A tale of two cities: San Mateo rejects Manila's trash; Rizal opens landfill to Malabon
- Emma Tiglao crowned Miss Grand PH 2025
