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
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, This news data comes from:http://xt.yamato-syokunin.com
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.
- Corruption crackdown: VP Sara Duterte, lawmakers call for deeper probe into government
- Anutin elected as Thailand's new prime minister
- PH, Australia hold live fire drills during ALON 2025 in Nueva Ecija
- PH Army showcases disaster response capabilities before Thai defense officials
- Marcos signs laws declaring holidays across PH
- Gasoline, diesel prices to increase again next week
- Drones take on Everest's garbage
- 9 dead in Ecuador after bus plunges into ravine
- Sen. Go calls for round-the-clock DFA support for OFWs welfare
- Nartatez relieves Fajardo as PNP spokesman
