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.”, This news data comes from:http://kmngr.aichuwei.com
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.
- Lookout bulletins out vs Atong Ang, Barretto
- Japan PM decides to quit as opponents seek leadership election: reports
- Fire breaks out in Manila residential area
- ‘40% of Filipinos obese’
- Vico Sotto could challenge VP Sara in 2028 race – survey
- 2 policemen placed under preventive custody for allegedly molesting a female colleague in Marikina
- Ukraine eyes defense deal with PH that includes co-production of drones, says envoy
- Trump to blacklist countries for imprisoning Americans
- Escudero urges list of unfundable projects for 2026 budget
- Comelec completes ballot printing for Bangsamoro elections despite redistricting dispute
