SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
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., This news data comes from:http://qyicx.gyglfs.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.
Go files housing development bill
- US church shooter 'obsessed with idea of killing children'
- Palace: Govt monitoring Chinese sleeper agents, PLA presence in PH
- Remulla pledges transparency and impartiality as Ombudsman
- Mexican drug lord faces life in prison after pleading guilty in US court
- 'Pink and green' protests call for a reset in Indonesia
- Some areas in Metro Manila, Bulacan to have brownouts due to maintenance work
- Zelenskyy seeks talks with Trump and European leaders on slow progress of peace efforts with Russia
- DoTr seeks higher budget for 2026, requests P531B amid cuts
- India's Modi seeks closer ties on Asia tour to offset US tariff fallout
- MMDA unveils plan to build rainwater impounding facilities in Camp Aguinaldo
