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., This news data comes from:http://inlb-as-tnm-wei.erlvyiwan.com
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.
Go files housing development bill
- Konektadong Pinoy Bill has lapsed into law — Palace
- Public Works Chief Vince Dizon demands courtesy resignations to 'clean house'
- House starts flood control probe
- NBI slaps Alice Guo, 35 Others with new graft, misconduct cases
- New judge to handle Dengvaxia cases named; hearing set
- PNP disputes China's crime advisory, says Philippines crime rate dropped
- Thailand acting PM moves to dissolve parliament — party
- 1.2K pass Electrical Engineers exam
- Modi and Putin affirm special relationship as India faces steep US tariffs over Russian oil imports
- Lacson: House can't return proposed 2026 budget to Palace
