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.
Go files housing development bill, This news data comes from:http://www.gyglfs.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.
- Palace rejects Sara's offer of 'free advice' on flood solutions, says to give it to 'Mayor Baste' instead
- Argentina hunts Nazi-looted painting revealed in property ad
- Napolcom confirms Lt. Gen. Nartatez as acting PNP chief
- PNP chief leads fun run
- Marcos signs law giving 99-year land lease to foreign investors
- Pope declares 'God's influencer' first millennial saint
- Marcos says commission on DPWH anomalies to be finalized 'very soon,' mum on Magalong participation
- Govt eyes charges vs Discayas over 'unfinished' PH Film Heritage Building
- HEADLINES: 15 drug war victims cleared to join Duterte's ICC case | Sept. 7, 2025
- Transport chief pushes shame campaign vs errant motorists
