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.
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.”, This news data comes from:http://yamato-syokunin.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.
- Co out of country for medical reasons
- Comelec defers BARMM district reconstitution
- Marcos declares holidays for 2026
- COA launches sweeping audit of flood control projects
- Former PNP chief Torre III offered new government post
- Lacson warns lawmakers may be complicit in ghost flood control projects
- DILG suspends classes, gov’t work in 17 areas
- Drug war victims ready to face Duterte as ICC sets hearing on crimes against humanity
- Arjo Atayde, Vice Ganda, Marian Rivera win top acting honors at 73rd FAMAS Awards
- Private groups back DHSUD chief's anti-corruption policy
