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://gyglfs.com
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
- Denmark summons US envoy over 'attempts to influence' Greenland
- Asian voices needed to 'shape agenda' - AVPN chief
- DoTr seeks higher budget for 2026, requests P531B amid cuts
- PH economic losses hit 100B from corruption in flood control projects
- Bonoan freezes DPWH travel passes
- Open mic caught Xi, Putin discussing immortality
- Globe partners with unconnected.org to provide remote schools with sustainable internet connectivity
- Boy killed, mother injured in Pasig fire
- Veteran Thai politician Anutin Charnvirakul wins vote in Parliament to become next prime minister
- MMDA prepares for PH hosting of FIVB
