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., This news data comes from:http://www.705-888.com
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.
- China displays its weaponry in a tightly controlled military parade
- Comelec upholds cancelation of Duterte Youth registration
- Comelec to open nearly two-year overseas voter registration for 2028 elections
- Gloria Arroyo files bill to empower Office of the Vice President
- Palace slams Discaya couple's denial in Film Heritage Building debacle
- Pagasa monitors 2 LPAs inside PAR; prevailing 'habagat' brings rain across PH
- Pump prices increase for 2nd straight week
- Remulla pledges transparency and impartiality as Ombudsman
- Marcos orders 'sweeping review' of DPWH budget under 2026 NEP
- Indonesian police officer fired over killing that sparked protests
