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.
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.”, This news data comes from:http://ycyzqzxyh.com
”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.

- Taylor Swift, Travis Kelce engaged
- 4 policemen linked to sabungero case slapped with more administrative cases
- Tourists dice with danger on Hanoi's train street
- Indonesia, US and allies launch joint military drills
- Macron says 26 countries pledge troops as a reassurance force for Ukraine after war ends
- Motive probed for US shooting that killed two children, injured 17
- 100K Pakistanis flee amid flood threat
- Need a pee? Japan has QR code for that
- Pope demands end to 'collective punishment' and forced displacement of Palestinians in Gaza
- Marikina City chief of police relieved