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://gyglfs.com
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.
- DFA: No US extradition request for Quiboloy
- Duterte defense files more motions challenging ICC prosecutor
- Lacson to give Dizon 'damning' proof vs DPWH 'rotten fruits'
- White House fires US health agency head after she refused to quit
- Emma Tiglao crowned Miss Grand PH 2025
- Social pension eyed for indigent seniors
- Labubu fans flock to stores after launch of mini dolls
- Workers urge Marcos to stop corruption by banning political dynasties
- Rise in HFMD cases due to better reporting, not outbreak
- Xi and Putin's hot mic moment: How long will science extend the human life span?
