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://www.ycyzqzxyh.com
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
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.
- Lacson: House can't return proposed 2026 budget to Palace
- Prompt release of educational aids sought
- Pag-IBIG Fund gives occupants 10% discount to legally buy acquired homes
- Taiwan, China locked in historical word war
- Sara Duterte calls DPWH flood control Inquiry a 'Zarzuela'
- Tariffs, migration and cartels will top Rubio's talks in Mexico and Ecuador this week
- Globe partners with unconnected.org to provide remote schools with sustainable internet connectivity
- More funding sought for sports commission
- EU massive fine against Google draws Trump’s ire
- Palace rejects China's 'troublemaker' tag
