SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go said the measure aims to meet the country’s growing social housing demands, particularly among underprivileged and homeless citizens., This news data comes from:http://oq-vn-xr-oxij.gangzhifhm.com
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.
- Plea written in blood saves Chinese woman trapped in locked room
- Palace slams Discaya couple's denial in Film Heritage Building debacle
- US appeals court blocks Trump's use of wartime law for deportations
- Hawaii's Kilauea volcano erupts with lava pouring out from multiple vents
- A suicide bombing near a political rally in southwestern Pakistan kills 13 and wounds 30
- House panel defers 2026 DPWH budget until agency submits changes
- 13 massage therapists robbed, 2 cry rape
- LPA off Leyte has low chance of becoming cyclone within 24 hours —Pagasa
- Red Cross head says mass evacuation of Gaza City 'impossible'
- Pope Leo meets LGBTQ+ Catholic advocate and vows continuity with Pope Francis' legacy of welcome
