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.
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.”
Go files housing development bill
”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
- South Korea to ban mobile phones in school classrooms
- Venezuela deploys warships, drones as US destroyers draw near
- Need to pee? Japan has QR code for that
- Trump stamps 'dictator chic' on Washington
- Escudero urges list of unfundable projects for 2026 budget
- Pope meets with Chagos refugees and delivers message about rights of the weak against the powerful
- China displays its weaponry in a tightly controlled military parade
- MMDA prepares for PH hosting of FIVB
- House suspends DPWH budget deliberations pending submission of changes by agency, DBM
- Malacañang hits back at VP Duterte's criticism on flood scam probe
