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, This news data comes from:http://qbmk-yai-pg-ivki.771bg.com
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.
- Thai Court: PM Shinawatra violated ethics rules
- Govt debt swells to record P17.58T
- Social media erupts: Politicians' children face backlash for flaunting wealth
- Gomez-Estoesta named court administrator by Supreme Court
- AFP: It would take more than a tugboat to tow BRP Sierra Madre from Ayungin Shoal
- Marcos orders 'sweeping review' of DPWH budget under 2026 NEP
- Some areas in Metro Manila, Bulacan to have brownouts due to maintenance work
- Cambodia MPs pass law allowing stripping of citizenship
- Cooperatives group lauds Konektadong Pinoy Law as milestone in digital inclusion
- Marcos Jr. seeks 'fair, impartial' Ombudsman - Palace
