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://npll-ory-rhx-rhdv.052298.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.
- CBCP president urges Israel to stop military operations in Gaza
- Palace rejects Sara's offer of 'free advice' on flood solutions, says to give it to 'Mayor Baste' instead
- 175th birth anniversary of Marcelo H. Del Pilar commemorated in Manila
- Escudero urges list of unfundable projects for 2026 budget
- Govt debt swells to record P17.58T
- Dial 911: New nationwide emergency hotline to go live on Sept. 11
- Thai Court: PM Shinawatra violated ethics rules
- SSS pension reform program starts in September
- Napoles gets 55 years for another ‘pork’ case
- Comelec to resume BARMM polls ballot printing Thursday
