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.
- Vietnam marks 80th independence anniversary with huge parade
- ‘God’s Influencer’ to become first millennial saint
- House party leaders want to return proposed 2026 budget to Executive
- Marikina City chief of police relieved
- 'Ondoy'-level rains swamp Quezon City
- Remulla pledges transparency and impartiality as Ombudsman
- Comelec delays implementation of decision disqualifying Duterte Youth Party-List
- ₱1.7M shabu seized in Taguig buy-bust
- Legarda pushes Magna Carta of Waste Workers
- 'Strangest' dinosaur covered in spiked armory — Scientists
