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://www.052298.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.
- Sara slams govt corruption probe as a 'political zarzuela,' to meet with Robredo at Bicol festival
- LTO summons driver who berated MMDA enforcer
- PH Navy spots 20 Chinese ships near BRP Sierra Madre
- Catholic, Greek Orthodox clergy to stay in Gaza City to help weakest
- Comelec en banc upholds cancelation of Duterte Youth Party-List registration
- DoTr seeks higher budget for 2026, requests P531B amid cuts
- Duterte lawyers take aim at ICC prosecutor
- New Zealand to allow some wealthy foreign investors onto property market
- Trough of LPA, ‘habagat’ will bring rain showers, thunderstorms across PH
- Some areas in Metro Manila, Bulacan to have brownouts due to maintenance work
