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, This news data comes from:http://ri-ygts-wphe-ria.705-888.com
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
”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.
- Read to reduce sentence, Uzbekistan tells prisoners
- Lacson: House can't return proposed 2026 budget to Palace
- Lacson to govt: Protect education budget
- ₱1.7M shabu seized in Taguig buy-bust
- 'New' position being offered to Torre — Palace
- La Niña forecast from Sept-Dec, expect more tropical cyclones, above normal rainfall -- Pagasa
- Retired NBI agents urge Marcos to appoint career official to replace Santiago
- Corruption crackdown: VP Sara Duterte, lawmakers call for deeper probe into government
- Trump rebrands Department of Defense as 'Department of War'
- Wife of Australian man wanted in police killings urges him to surrender
