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., This news data comes from:http://www.xs888999.com
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.
Go files housing development bill
- Duterte defense files more motions challenging ICC prosecutor
- 2 policemen placed under preventive custody for allegedly molesting a female colleague in Marikina
- Court rules on subdivision open spaces, road lots
- Pangilinan urges Marcos Jr. to prioritize bill aiding farmers, fishermen
- PH Construction Board asked to address 'accreditation for sale' scandal
- Immigration: 1st lookout bulletin in effect on 35 individuals, including Discayas, linked to anomalous flood control projects
- 15 people hospitalized after double-decker bus crashes outside London's Victoria Station
- 95 IMAGES OF MARY
- Mass housing developers laud Pag-IBIG Fund
- Marcos declares holidays for 2026
