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.
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://yamato-syokunin.com
Go files housing development bill
- MMDA proposes rainwater facilities in Camp Aguinaldo to mitigate EDSA flooding
- DMW, pharmaceutical firm sign agreement to boost access to medicines, hospital services for OFWs, families
- NATO members to reach 2% defense spending goal this year
- Peru’s ex-president Toledo gets a second sentence in the Odebrecht corruption scandal
- House party leaders want to return proposed 2026 budget to Executive
- 175th birth anniversary of Marcelo H. Del Pilar commemorated in Manila
- PH eyes global partners in biggest railway project
- Go Negosyo, CFO push migrant empowerment
- Boy killed, mother injured in Pasig fire
- US agents arrest 475 in Hyundai-LG plant raid
