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://www.052298.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.
Go files housing development bill
- Marcos signs mining tax regime law
- Go seeks more support for Filipino athletes
- Japan accelerates missile deployment amid rising regional tensions
- New judge to handle Dengvaxia cases named; hearing set
- CBCP president urges Israel to stop military operations in Gaza
- Drones take on Everest's garbage
- President Marcos Jr. visits Cambodia to strengthen ties
- 4 of 15 contractors on Marcos list have clean records – DPWH
- DoTr seeks higher budget for 2026, requests P531B amid cuts
- Islamic State claims deadly attack on Pakistan rally
