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://705-888.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.”
”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.
- MMDA proposes rainwater facilities in Camp Aguinaldo to mitigate EDSA flooding
- Police brutality fuels soaring tensions in Indonesia
- The rot goes deep: Marcos decries decades-old corruption
- Majority of Filipinos unaware of vote buying in 2025 elections, OCTA survey shows
- North Korean leader inspects new missile factory ahead of visit to China
- Ballots for oct 13 BARMM polls completed – Comelec
- Tensions soar in Indonesia as protests over police brutality and lawmakers' allowances continue
- 'Perfect storm': UK fishermen reel from octopus invasion
- DPWH exec fired, 2 others face dismissal over flood control mess
- Hontiveros urges probe on Chinese faking Filipino identity
