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., This news data comes from:http://www.771bg.com
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.
- Prompt release of educational aids sought
- Construction managers, developers back Housing chief's anti-corruption advocacy
- Monsoon rains flood Mandaluyong, Parañaque — MMDA
- IBP to form good governance panel
- Majority of Filipinos unaware of vote buying in 2025 elections, OCTA survey shows
- CBCP president urges Israel to stop military operations in Gaza
- Duterte party's acting chairman charged at Sandiganbayan over Malampaya project
- NKorea could produce ten to twenty nukes per year — SKorea leader
- Police officers face more charges in missing cockfight enthusiasts case
- Pope Leo meets LGBTQ+ Catholic advocate and vows continuity with Pope Francis' legacy of welcome
