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.
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://kt.redcanaco.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.
- Chinese sleeper agents' and PLA operatives a threat, Lacson warns
- Prompt release of educational aids sought
- DPWH to revisit budget, to complete revisions within 2 weeks
- LGBTQ+ Catholics make Holy Year pilgrimage to Rome and celebrate a new sense of acceptance
- Trump threatens Russia with sanctions after biggest aerial attack on Ukraine
- Marcos leads oath taking of new officers of League of Provinces of the Philippines
- DOTr denies ordering shutdown of online selling platforms
- Most Filipinos distrust China, see it as biggest threat — OCTA survey
- Lacson to govt: Protect education budget
- PH, Australia hold live fire drills during ALON 2025 in Nueva Ecija
