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://tkr.jyxingfa.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.
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.
Go files housing development bill
- ‘Lannie’ will bring rain showers, thunderstorms over North Luzon —Pagasa
- Majority of Filipinos unaware of vote buying in 2025 elections, OCTA survey shows
- DFA: No US extradition request for Quiboloy
- Modi, Ishiba agree to boost economic ties
- WBO champ looms as Pacquiao’s next opponent
- ‘Large shark’ kills man off Sydney beach
- Taiwan, China locked in historical word war
- Jollibee, DepEd partner to develop quick service restaurant curriculum for senior high
- Thai woman jailed for 43 years for lese majeste freed
- Pope Leo: We must listen first before speaking
