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.
Go files housing development bill
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, This news data comes from:http://www.xs888999.com
- Bonoan resigned due to command responsibility — Marcos
- Philippines to launch shame campaign vs traffic violators
- Lacson: Torre 'acted beyond his authority'
- Dial 911: New nationwide emergency hotline to go live on Sept. 11
- LPA trough, 'habagat' to bring rains in parts of Luzon, including Metro Manila
- Construction managers, developers back Housing chief's anti-corruption advocacy
- Xi says China 'unstoppable' in parade opening speech
- Majority of Filipinos unaware of vote buying in 2025 elections, OCTA survey shows
- Quezon City launches 'Healthy QC' ordinance to combat childhood obesity
- Marcos to create independent commission to investigate flood control anomalies
