SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://ej-ig-vt-gsfw.aichuwei.com
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.
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.”
”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.
- Motive probed for US shooting that killed two children, injured 17
- ‘Lannie’ will bring rain showers, thunderstorms over North Luzon —Pagasa
- Kilauea's eruption is back as the Hawaii volcano shoots lava for the 31st time since December
- LPA affects Metro Manila, Mindanao, Visayas
- DILG denies allegations that PNP chief fired over firearms deal
- Mexican senators come to blows after heated debate
- DoTr seeks higher budget for 2026, requests P531B amid cuts
- President asks governor to expose irregularities in govt projects
- Drug war victims ready to face Duterte as ICC sets hearing on crimes against humanity
- Madagascar welcomes home skulls of Indigenous warriors taken by French colonial troops 128 years ago
