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.
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.
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://www.aichuwei.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.
- Petitioners challenge claim NAIA fees lowest in Southeast Asia
- Dizon to abolish DPWH internal special investigation team created to look into the flood control anomalies
- PNP chief Torre relieved, Nartatez to take over
- NATIONAL ARTIST'S HOMETOWN
- Isko Moreno files charges against contractor over illegal demolition of sports complex in Manila
- Former president Duterte's health stable despite high blood sugar, says VP Sara
- DoTr seeks higher budget for 2026, requests P531B amid cuts
- 'Mockery of science': US experts blast Trump climate report
- PH Construction Board asked to address 'accreditation for sale' scandal
- Trump plans a hefty tax on imported drugs, risking higher prices and shortages
