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.
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.”, This news data comes from:http://pal-ghij-hvih-qtfl.gangzhifhm.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.
- Israeli forces seize nearly 0,000 in West Bank raid
- Marcos orders lifestyle checks on all government officials amid flood control probe
- Shooting of Indonesian diplomat in Peru investigated as a contract killing
- P270M rock shed useless – Marcos
- Hope dwindles for survivors days after deadly Afghan quake
- House justice panel to probe US' extradition request for Quiboloy
- Marcos mum on Magalong joining independent commission for DPWH probe
- Marcos declares holidays for 2026
- Marcos wants subpoena power for body investigating flood projects
- Pacifist Japan struggles to boost troops as China anxiety grows
