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.
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation., This news data comes from:http://xs888999.com
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
- Petitioners challenge claim NAIA fees lowest in Southeast Asia
- HEADLINES: 15 drug war victims cleared to join Duterte's ICC case | Sept. 7, 2025
- Zelenskyy seeks talks with Trump and European leaders on slow progress of peace efforts with Russia
- No winner in Grand, Megalotto draws for Aug 27
- Lawmaker questions 340% NTF-ELCAC budget increase
- 102-year-old becomes oldest person to summit Mount Fuji
- Thai woman jailed for 43 years for lese majeste freed
- DPWH fires Bulacan engineers, blacklists contractors over anomalous projects
- Ex-DPWH secretary's daughter linked to construction firm in flood control probe, says Lacson
- PH Construction Board asked to address 'accreditation for sale' scandal
