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.yamato-syokunin.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
- Vico Sotto could challenge VP Sara in 2028 race – survey
- Govt eyes charges vs Discayas over 'unfinished' PH Film Heritage Building
- DOJ indicts Abra Mining for fraudulent trading
- Drug war whistleblower Royina Garma returns to PH after US detention
- PH eyes global partners in biggest railway project
- Zelenskyy meets European leaders on Ukraine security guarantees
- President pushes probe on flood control mess amid congressional inquiry
- Nartatez vows to be fair in making reassignments
- Sotto takes oath as Senate president
- Eala ousts Day, enters Guadalajara Open final
