SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://wcoe-yk-wtos-juu.ycyzqzxyh.com
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.
- Estrada, Villanueva tagged in House flood control mess, says 'SOP was 30%'
- Majority of Filipinos unaware of vote buying in 2025 elections, OCTA survey shows
- ICC clears applications of 15 drug war victims to join proceedings vs Duterte
- Angkas supports DICT's amnesty program for unregistered delivery services
- India's Modi seeks closer ties on Asia tour to offset US tariff fallout
- Comelec upholds cancelation of Duterte Youth registration
- Pag-IBIG Fund gives occupants 10% discount to legally buy acquired homes
- Made in China? The remarkable tale of Venice's iconic winged lion
- Cusi charged over Malampaya deal
- Napolcom welcomes Nartatez’s move to recall Torre’s reassignments
