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.”, This news data comes from:http://ufb-oxp-afc-mm.705-888.com
”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
- Marcos says commission on DPWH anomalies to be finalized 'very soon,' mum on Magalong participation
- SC orders comment on petitions vs polls
- Gasoline, diesel prices to increase again next week
- Indonesia hosts annual US-led combat drills with Indo-Pacific allies
- Lacson warns lawmakers may be complicit in ghost flood control projects
- PH doesn't recognize Taiwan as sovereign state, stands by 'One China Policy' -- Foreign Affairs chief
- UP journalism professor chides Rep. Gomez over ‘media spin’ claims
- House party leaders want to return proposed 2026 budget to Executive
- COA launches sweeping audit of flood control projects
- Police general suspended for ‘obstruction’ of evidence in case of missing sabungeros
