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.
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.”
Go files housing development bill
”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, This news data comes from:http://umcrt.xs888999.com
- DPWH told to build evacuation centers
- Argentina hunts Nazi-looted painting revealed in property ad
- Ever dream of having an entry in the Guinness World Records? Here's how to do it
- Go files housing development bill
- Escudero urges list of unfundable projects for 2026 budget
- Mass housing developers laud Pag-IBIG Fund
- Immigration: 1st lookout bulletin in effect on 35 individuals, including Discayas, linked to anomalous flood control projects
- Malacañang hits back at VP Duterte's criticism on flood scam probe
- Israel army urges Gaza City residents to leave
- MMDA unveils plan to build rainwater impounding facilities in Camp Aguinaldo
