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://pa-ncna-cb-kue.jyxingfa.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.”
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.
Go files housing development bill
- DPWH engineer denies role in Bulacan flood control ‘ghost projects’
- Thailand's former Prime Minister Thaksin makes surprise departure ahead of a risky court ruling
- PH to see ‘blood moon’ Sept. 7-8
- Marcos, first lady visit Cambodia to boost ties
- Lacson: House can't return proposed 2026 budget to Palace
- 9 dead in Ecuador after bus plunges into ravine
- Tariffs, migration and cartels will top Rubio's talks in Mexico and Ecuador this week
- Trump plans a hefty tax on imported drugs, risking higher prices and shortages
- Majority of Filipinos unaware of vote buying in 2025 elections, OCTA survey shows
- Seoul says fired warning shots after North Korean troops crossed border
