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.
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://cvbqf.yamato-syokunin.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.
- House committee subpoenas Sarah Discaya, 4 other contractors over flood control project anomalies
- 20 people missing after deadly Indonesia protests
- Group presses DA on delayed fertilizer subsidies
- ICC postpones Duterte’s confirmation hearing after defense panel cites fitness concerns
- Xi says China 'unstoppable' in parade opening speech
- House holds budget review with 21 civil society organizations
- Marcos confers diplomatic merit award on two ambassadors
- Majority of Filipinos unaware of vote buying in 2025 elections, OCTA survey shows
- Marcos names Dizon as DPWH secretary
- 'Lannie' exits PH — Pagasa
