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.
Go files housing development bill
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.”, This news data comes from:http://www.705-888.com
”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
- 500 Internal Server Error
- Maduro calls for dialogue hours after Trump’s threat
- Sara’s claims that corruption probe could be done in one day 'absolutely preposterous' – Palace
- Escudero urges list of unfundable projects for 2026 budget
- 'Lannie' exits PH — Pagasa
- Some areas in Metro Manila, Bulacan, Quezon to have power interruptions due to maintenance work
- 40% of Filipinos are now obese, says Health expert
- Japanese climber, 102, sets Mount Fuji record
- Former president Duterte's health stable despite high blood sugar, says VP Sara
- Four children killed by parents in Dominican Republic — police
