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, This news data comes from:http://www.xs888999.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.
- Harold Cabreros takes post as new OCD chief
- PH has chance of getting UNSC seat - Manalo
- 40% of Filipinos are now obese, says Health expert
- Wawao Builders exec ‘not sure’ if company has flood control project in Bulacan
- Escudero urges list of unfundable projects for 2026 budget
- 4 of 15 contractors on Marcos list have clean records – DPWH
- Nartatez to reassign Torre if he won't retire, says they're 'okay'
- Pagasa sees cyclone-free week across PH
- CBCP president urges Israel to stop military operations in Gaza
- Trump says he wants to meet North Korea's Kim again
