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., This news data comes from:http://ycyzqzxyh.com
Go files housing development bill
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.”
”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.
- Pasig City continues barangay aid for efficiency, ends patronage politics
- PH, Australia hold live fire drills during ALON 2025 in Nueva Ecija
- Lacson: DPWH exec sought ‘insertions’
- House probe tackles flood control corruption: Lawmakers disclose conflicts of interest
- Undersea cables cut in the Red Sea, disrupting internet access in Asia and the Mideast
- ALPAS Consultancy bags five awards in Philippine Quill debut
- LPA over West PH Sea develops into tropical depression, now called ‘Jacinto’ -- Pagasa
- Trump moves to end US tariff exemption for small packages
- Ukraine eyes defense deal with PH that includes co-production of drones, says envoy
- Sotto files bill to amend party-list system
