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.
Go files housing development bill
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://qpry.erlvyiwan.com
- Housing secretary declares 'zero-tolerance' policy on corruption
- Social media erupts: Politicians' children face backlash for flaunting wealth
- House suspends DPWH budget deliberations pending submission of changes by agency, DBM
- DoTr seeks higher budget for 2026, requests P531B amid cuts
- Mass housing developers laud Pag-IBIG Fund
- Drug war whistleblower Royina Garma returns to PH after US detention
- In Taiwan, competing narratives over the meaning of China's massive military show
- MMDA inks deal with DBM for G-3 program
- Australia's 'mushroom murderer' handed life in prison with parole
- NBI slaps Alice Guo, 35 Others with new graft, misconduct cases
