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://nxyovi.705-888.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.”
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.
- Wawao Builders exec ‘not sure’ if company has flood control project in Bulacan
- Emma Tiglao crowned Miss Grand PH 2025
- Prince Harry to visit UK on anniversary of queen's death
- PH to host seafarers’ welfare forum
- Some areas in Metro Manila, Bulacan, Quezon to have power interruptions due to maintenance work
- US strike marks shift to military action against drug cartels
- Modi, Ishiba agree to boost economic ties
- DPWH seeks lookout bulletin vs officials, contractors in ghost projects
- Comelec en banc upholds cancelation of Duterte Youth Party-List registration
- Macron says 26 countries pledge troops as a reassurance force for Ukraine after war ends
