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.
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://qckcns.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.
Go files housing development bill
- PH, Japan conduct search and rescue exercises
- Comelec defers BARMM district reconstitution
- Can a giant seawall save Indonesia's disappearing coast?
- MPD announces road closures for Bar exams
- CFO office moves from Quezon City to Pasay
- Pacifist Japan struggles to boost troops as China anxiety grows
- Russian drone, missile attack kills 14, injured 48 in Kyiv
- 'Perfect storm': UK fishermen reel from octopus invasion
- Philippines to work more closely with US amid regional challenges
- House panel defers 2026 DPWH budget until agency submits changes
