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://wij-mfrx-us-vc.xs888999.com
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.”
Go files housing development bill
”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.
- MPD announces road closures for Bar exams
- Trump withdraws Kamala Harris's Secret Service protection
- 25,000 Filipinos register for Pag-IBIG's Expanded 4PH Housing Program
- PH doesn't recognize Taiwan as sovereign state, stands by 'One China Policy' -- Foreign Affairs chief
- House resumes budget briefings
- DoTr seeks higher budget for 2026, requests P531B amid cuts
- Wife and ally of ousted SKorean president indicted by special prosecutors
- Lookout bulletins out vs Atong Ang, Barretto
- House starts flood control probe
- A summit and parade in China may signal a geopolitical shift
