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://wpcf.ycyzqzxyh.com
Go files housing development bill
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.
Go files housing development bill
- Comelec to open nearly two-year overseas voter registration for 2028 elections
- Russian drone, missile attack kills 14, injured 48 in Kyiv
- Heavy rains flood parts of Metro Manila anew
- Labubu fans flock to stores after launch of mini dolls
- Lacson: House can't return proposed 2026 budget to Palace
- Pasig fire kills child, injures mother as she tries to save him
- Iran says open to US nuclear talks, rejects missile curbs
- EU massive fine against Google draws Trump’s ire
- 15 drug war victims cleared to join Duterte's ICC case
- Ukraine eyes defense deal with PH that includes co-production of drones, says envoy
