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., This news data comes from:http://qjo.705-888.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
- New Quezon City judge to oversee Dengvaxia vaccine cases, sets hearing
- Summer brings overtourism fears for 'Bavarian Caribbean'
- Cebu Pacific to launch direct flights between Cebu and Palawan
- Manila Water announces service disruption for over 12K households in Mandaluyong due to leak repair
- Marcos declares holidays for 2026
- Palace hits Discayas over ‘misinformation’ on PH film center project
- Indonesia leader orders investigation into driver's protest death
- Indonesia protests put spotlight on paramilitary police force
- 40% of Filipinos are now obese, says Health expert
- Metro Manila, rest of Luzon would be rainy due to ‘habagat’ —Pagasa
