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://buqpxjks.jyxingfa.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.”
”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
- NBI slaps Alice Guo, 35 Others with new graft, misconduct cases
- Pope declares 'God's influencer' first millennial saint
- Majority of Filipinos unaware of vote buying in 2025 elections, OCTA survey shows
- No peace without end to hostilities –Arab bloc
- Marcos 'ready' to undergo lifestyle check- Palace
- Hope dwindles for survivors days after deadly Afghan quake
- Thailand ruling party moves to dissolve parliament
- Argentina hunts Nazi-looted painting revealed in property ad
- PH, Australia, Canada hold joint sea drills
- LPA affects Metro Manila, Mindanao, Visayas
