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.
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.”, This news data comes from:http://kcg-lmri-je-dm.ycyzqzxyh.com
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.
- House party leaders want to return proposed 2026 budget to Executive
- Macron's decision to recognize Palestinian state angers Israel and the US
- Indonesia, US and allies launch joint military drills
- Sotto willing to testify in Senate probe of flood control anomalies if summoned
- 11 foreigners killed in Portugal funicular crash
- Trump wants to meet Norea Korea's Kim again
- Indonesian finance minister's home looted as protest anger grows
- Seoul says over 300 South Koreans held in US battery plant site raid
- Made in China? The remarkable tale of Venice's iconic winged lion
- Cyclone's trough, habagat will bring cloudy skies, rain showers over PH
