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.
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, This news data comes from:http://052298.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.
- Japan govt seeks to triple spending on drones
- Israel army urges Gaza City residents to leave
- DPWH engineer in bribery scandal placed under preventive suspension
- Pagasa: Trough of LPA, 'habagat' will bring rain, thunderstorms across PH
- SEARCH WARRANT
- DoTr seeks higher budget for 2026, requests P531B amid cuts
- Some areas in Metro Manila, 5 provinces to have power interruptions due to maintenance works
- No winner in Ultra, Megalotto draws for Sept 5
- No winner in Ultra, Megalotto draws for Aug 29
- 'I have no resentment,' says Torre after dismissal as PNP chief
