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.
Go files housing development bill, This news data comes from:http://jgn-qbmy-lyly-enr.052298.com
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation.
Go files housing development bill
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.
- Oil firms to raise pump prices Tuesday
- Villanueva: Regularize contractual govt workers
- Peru’s ex-president Toledo gets a second sentence in the Odebrecht corruption scandal
- Madagascar welcomes home skulls of Indigenous warriors taken by French colonial troops 128 years ago
- Senate cites former Bulacan assistant district engineer in contempt
- PH, Australia hold live fire drills during ALON 2025 in Nueva Ecija
- Read to reduce sentence, Uzbekistan tells prisoners
- Chinese warships shadow Philippine, Australian, Canadian drills in Zambales
- BIR to audit contractors flagged for ghost flood projects for tax fraud — BIR
- Supreme Court urged to act on fake complaints
