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.”
”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., This news data comes from:http://npomuo.771bg.com
- DILG denies claims ex-PNP chief ousted over firearms purchase
- DPWH exec asked lawmaker to make budget insertions — Lacson
- LTO told to summon 2 DPWH engineers with fake driver’s license
- PH, Australia hold live fire drills during ALON 2025 in Nueva Ecija
- Sara mum, but brother thinks Torre removal due to PNP's 'internal conflicts'
- UK police arrest hundreds in latest Palestine Action demo
- Police brutality fuels soaring tensions in Indonesia
- Tariffs, migration and cartels will top Rubio's talks in Mexico and Ecuador this week
- PH Army showcases disaster response capabilities before Thai defense officials
- Trump plans a hefty tax on imported drugs, risking higher prices and shortages
