SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go files housing development bill
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://ywdj-lm-tgh-py.771bg.com
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
- Mexican boxer Chavez Jr. released from prison pending trial
- Philippine experts urge harm reduction strategy for tobacco control
- Tokyo protests to Beijing over gas field in East China Sea
- DPWH to revisit budget, to complete revisions within 2 weeks
- Bolsonaro verdict looms as Brazil coup trial closes
- Duterte Youth brings Comelec cancelation battle to Supreme Court
- House panel defers 2026 DPWH budget until agency submit changes
- US appeals court finds Trump's global tariffs illegal
- ‘Large shark’ kills man off Sydney beach
- SSS hails Marcos, Recto for initiating pension reforms, including one to be rolled out in Sept
