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.
Go files housing development bill, This news data comes from:http://aeps.052298.com
- Bonoan resigned due to command responsibility — Marcos
- Indonesia protests put spotlight on paramilitary police force
- Trump to blacklist countries for imprisoning Americans
- House panel defers 2026 DPWH budget until agency submit changes
- Motive probed for US church shooting that killed 2 children, injured 17
- UP journalism professor chides Rep. Gomez over ‘media spin’ claims
- Discayas to file raps vs protesters, will attend Senate hearing — lawyer
- Sen. Pangilinan Advocates for Credit-Worthy Farmers to Boost Agriculture Sector
- COA launches sweeping audit of flood control projects
- DPWH exec asked lawmaker to make budget insertions — Lacson
