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., This news data comes from:http://lbiachkv.771bg.com
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.
- Majority of Filipinos unaware of vote buying in 2025 elections, OCTA survey shows
- Escudero says new lease law to make PH more appealing to investors
- Israeli strikes in Yemen's capital kill six, Houthis say
- Sarah Discaya grilled by Senate over alleged DPWH links
- P1.7-M shabu seized in Taguig buy-bust
- Modi: India, Japan to 'shape the Asian century'
- Filipino member of AHOP K-pop group says Manila concert a dream come true
- Thai opposition holds kingmaking summit deciding new PM
- Venezuela deploys warships, drones as US destroyers draw near
- Veteran Thai politician Anutin Charnvirakul wins vote in Parliament to become next prime minister
