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://nexd.705-888.com
Go said the measure aims to meet the country’s growing social housing demands, particularly among underprivileged and homeless citizens.
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.
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.
- ‘Lannie’ will bring rain showers, thunderstorms over North Luzon —Pagasa
- Marcos to attend UN meet in New York in Sept- Palace
- 2,000 North Korean troops killed in Russia deployment: Seoul spy agency
- Sara mum, but brother thinks Torre removal due to PNP's 'internal conflicts'
- Sarah Discaya grilled by Senate over alleged DPWH links
- House party leaders want to return proposed 2026 budget to Executive
- Gasoline, diesel prices to increase by P1 next week
- UK refuses to invite Israeli government officials to London arms fair over the war in Gaza
- Super Sale: Pag-IBIG offers 40% off on foreclosed assets
- Youth group to SC: Stop postponement of BSKE
