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.
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.”
”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., This news data comes from:http://ag.erlvyiwan.com
- Head of main US health agency abruptly dismissed
- Sen. Hontiveros pushes for Philippine Geriatric Center to aid seniors
- DoTr seeks higher budget for 2026, requests P531B amid cuts
- Epstein victims compiling list of sexual abusers
- Vatican puts Pope Francis' ecological preaching into practice with vocational farm center
- US church shooter 'obsessed with idea of killing children'
- Immigration: 1st lookout bulletin in effect on 35 individuals, including Discayas, linked to anomalous flood control projects
- Vietnam marks 80th independence anniversary with huge parade
- DOJ issues lookout order vs Atong Ang, others over missing cockfighters
- MMDA proposes rainwater facilities in Camp Aguinaldo to mitigate EDSA flooding
