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, This news data comes from:http://www.aichuwei.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.”
”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.
- Discaya’s construction companies competed against each other during biddings
- LBC Express Holdings top executive to retire in Oct.
- One in four people lack access to safe drinking water – UN
- ‘Lannie’ to bring rain over NLuzon, southwest monsoon to affect Metro Manila, Calabarzon, Mimaropa —Pagasa
- Made in China? The remarkable tale of Venice's iconic winged lion
- COA launches sweeping audit of flood control projects
- Peru’s ex-president Toledo gets a second sentence in the Odebrecht corruption scandal
- Marcos declares holidays for 2026
- Nartatez vows fair assignments, better resource management as new PNP chief
- EU massive fine against Google draws Trump threat
