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., This news data comes from:http://tl.erlvyiwan.com
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.”
Go files housing development bill
”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.
Go files housing development bill
- DILG to roll out nationwide unified 911 hotline on Sept. 11
- Wildfire tears through California gold rush town
- Kanlaon Volcano spews ash
- House panel defers 2026 DPWH budget until agency submit changes
- Ukraine eyes defense deal with PH that includes co-production of drones, says envoy
- Labubu fans flock to stores after launch of mini dolls
- Marcos to mark ‘Thrilla In Manila’ 50th anniversary
- Harold Cabreros takes post as new OCD chief
- 15 people hospitalized after double-decker bus crashes outside London's Victoria Station
- Duterte Youth brings Comelec cancelation battle to Supreme Court
