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., This news data comes from:http://fe.aichuwei.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.
- Group: Register for free PhilHealth medicines
- Most Filipinos distrust China, see it as biggest threat — OCTA survey
- Philippines to launch shame campaign vs traffic violators
- Washington makes military aid overtures to Sahel juntas
- Japan prince comes of age as succession crisis looms
- 11 foreigners killed in Portugal funicular crash
- Harold Cabreros takes post as new OCD chief
- Putin lands in Tianjin for summit hosted by China
- WBO champ looms as Pacquiao’s next opponent
- House party leaders want to return proposed 2026 budget to Executive
