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.
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., This news data comes from:http://cbm-xcbx-gts-dh.ycyzqzxyh.com
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
- Thailand's Parliament to vote Friday for a new prime minister
- US Spirit Airlines files for bankruptcy again
- Marcos declares holidays for 2026
- 2,000 North Korean troops killed in Russia deployment: Seoul spy agency
- DPWH chief rejects calls to resign as he vows to probe corruption in flood control projects
- Dizon to order DPWH officials to submit courtesy resignation
- Israel ups pressure on Gaza City as Trump talks post-war plan
- Five journalists among 20 killed in Israeli strikes on Gaza hospital
- Trough of LPA, ‘habagat’ will bring rain showers, thunderstorms across PH
- Go Negosyo, CFO push migrant empowerment
