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://sufn.gyglfs.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
- Marcos declares holidays for 2026
- Indonesia leader orders investigation into driver's protest death
- Israel flattens high-rise as it tells Gaza City residents to flee
- China criticizes Canadian, Australian warships transiting Taiwan Strait
- Israel city honors Quezon’s wartime rescue of Jews
- Duterte’s defense team outlines ICC strategy
- Dizon asks DOJ to issue immigration lookout bulletin to 26 DPWH officials and contractors
- Support grows for independent probe into flood control projects
- Taiwan: China illegally deploying oil rigs in its waters
- Earthquake kills 250, injures 500 in Afghanistan
