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://xs888999.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.
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.
- Pope demands end to 'collective punishment' and forced displacement of Palestinians in Gaza
- Motive probed for US church shooting that killed 2 children, injured 17
- Open mic caught Xi, Putin discussing immortality
- Trump moves to cut more foreign aid, risking shutdown
- Thai Court: PM Shinawatra violated ethics rules
- Israel army urges Gaza City residents to leave
- HEADLINES: 15 drug war victims cleared to join Duterte's ICC case | Sept. 7, 2025
- Trump tells Europe to put economic pressure on China over Ukraine
- Sara mum, but brother thinks Torre removal due to PNP's 'internal conflicts'
- PH has chance of getting UNSC seat - Manalo
