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, This news data comes from:http://mtlgl.jyxingfa.com
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.”
”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.
- Discaya says her family owns nine companies
- Lacson: DPWH exec sought ‘insertions’
- House party leaders want to return proposed 2026 budget to Executive
- Legarda pushes Magna Carta of Waste Workers
- ICC clears applications of 15 drug war victims to join proceedings vs Duterte
- Lacson clears air over conflict with Marcoleta on flood control probe
- Japan PM Ishiba bounces back in polls after election debacle
- Japan accelerates missile deployment amid rising regional tensions
- Emma Tiglao crowned Miss Grand PH 2025
- Trump moves to cut more foreign aid, risking shutdown
