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.erlvyiwan.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.
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.
Go files housing development bill
- Putin threatens to target Western troops in Ukraine
- Sen. Bong Go files bill for better health worker protection, benefits
- Sara favors punishing officials, lifestyle checks
- Earthquake in eastern Afghanistan kills at least 610 people and injures 1,300
- Veteran Thai politician Anutin Charnvirakul wins vote in Parliament to become next prime minister
- Marcos willing to submit to a lifestyle check
- Sara mum, but brother thinks Torre removal due to PNP's 'internal conflicts'
- LBC Express Holdings top executive to retire in Oct.
- New Zealand to allow some wealthy foreign investors onto property market
- HEADLINES: 15 drug war victims cleared to join Duterte's ICC case | Sept. 7, 2025
