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.”
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., This news data comes from:http://ycyzqzxyh.com
- 17 House lawmakers press Marcos administration to raise WPS issue to UN
- Earthquake kills 250, injures 500 in Afghanistan
- Comelec at 85: Garcia vows reforms
- Fears of new political crisis grip France
- Rains over Metro Manila, parts of PH as LPA may develop into 'short-lived' tropical depression
- Remulla pledges transparency and impartiality as Ombudsman
- Lacson: House can't return proposed 2026 budget to Palace
- Hope dwindles for survivors days after deadly Afghan quake
- ‘Lannie’ will bring rain showers, thunderstorms over North Luzon —Pagasa
- Pope Leo meets LGBTQ+ Catholic advocate and vows continuity with Pope Francis' legacy of welcome
