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, This news data comes from:http://ycyzqzxyh.com
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.”
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.
- Aid flotilla with Greta Thunberg set to sail for Gaza
- 500 Internal Server Error
- Discaya says her family owns nine companies
- Harold Cabreros takes post as new OCD chief
- Alex Eala targets US Open Round of 32 in rematch against Spanish rival
- HEADLINES: 15 drug war victims cleared to join Duterte's ICC case | Sept. 7, 2025
- Israel ups pressure on Gaza City
- DILG suspends classes, gov’t work in 17 areas
- Jollibee, DepEd partner to develop quick service restaurant curriculum for senior high
- Israeli strikes in Yemen's capital kill six, Houthis say
