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.
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., This news data comes from:http://ai-pwep-fd-jpyf.ycyzqzxyh.com
- Australia government condemns anti-immigration rally in Sydney
- 'God's Influencer' to become first millennial saint
- In Taiwan, competing narratives over the meaning of China's massive military show
- Marcos thumbs down return of proposed 2026 budget to Malacañang
- Shooting of Indonesian diplomat in Peru investigated as a contract killing
- Social media erupts: Politicians' children face backlash for flaunting wealth
- UK refuses to invite Israeli government officials to London arms fair over the war in Gaza
- Australia's 'mushroom murderer' handed life in prison with parole
- China displays its weaponry in a tightly controlled military parade
- South Korea's Lee faces pivotal test at first summit with Trump
