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
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., This news data comes from:http://gepxipdu.052298.com
- Sara favors punishing officials, lifestyle checks
- Harold Cabreros takes post as new OCD chief
- PH economic losses hit 100B from corruption in flood control projects
- Marcos signs law giving 99-year land lease to foreign investors
- DOJ issues lookout order vs Atong Ang, others over missing cockfighters
- Palestinian Embassy echoes PH appeal for ceasefire in Gaza
- Drones take on Everest's garbage
- DoTr seeks higher budget for 2026, requests P531B amid cuts
- Humanoid robots showcase skills at Ancient Olympia. But they're on a long road to catch up to AI
- EU massive fine against Google draws Trump threat
