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://xs888999.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.
- Dizon to order DPWH officials to submit courtesy resignation
- Manila marks National Heroes Day with job fair
- DPWH to revisit budget, to complete revisions within 2 weeks
- Palace rejects China's 'troublemaker' tag
- India's Modi meets Japan's Ishiba as he begins Asia tour
- Woman accused of murdering her children faces New Zealand trial
- San Juan commemorates first revolution under Spanish rule in 129th Araw ng Pinaglabanan
- Marcos thumbs down return of proposed 2026 budget to Malacañang
- DoTr seeks higher budget for 2026, requests P531B amid cuts
- Marcos approves EO for commission to probe flood project anomalies
