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
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., This news data comes from:http://nnvwvys.gyglfs.com
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.
Go files housing development bill
- Marcos orders full budget review for DPWH amid ghost projects scandal
- Taiwan: China illegally deploying oil rigs in our waters
- US appeals court finds Trump's global tariffs illegal
- Galvez to MILF: Resolve divisions, protect Bangsamoro peace gains
- Comelec to resume BARMM polls ballot printing Thursday
- Heavy rains flood parts of Metro Manila anew
- P1.7-M shabu seized in Taguig buy-bust
- Comelec to open nearly two-year overseas voter registration for 2028 elections
- Philippines to work more closely with US amid regional challenges
- Makati earns high rating in anti-trafficking and violence assessment
