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.”
”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., This news data comes from:http://705-888.com
Go files housing development bill
- MMDA readies for FIVB men’s volleyball
- Alice Guo faces new cases over POGO land
- Lacson lauds Leviste for arrest of DPWH engineer who offered P360M bribe
- Read to reduce sentence, Uzbekistan tells prisoners
- Metro Manila, rest of Luzon would be rainy due to ‘habagat’ —Pagasa
- Escudero says new lease law to make PH more appealing to investors
- Marcos declares holidays for 2026
- Hope dwindles for survivors days after deadly Afghan quake
- Aid flotilla with Greta Thunberg set to sail for Gaza
- Thailand’s next PM reaffirms fresh polls promise
