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.
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.”, This news data comes from:http://www.ycyzqzxyh.com
”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
- CFO moves office from QC to Pasay
- DFA: No US extradition request for Quiboloy
- Palace slams Discaya couple's denial in Film Heritage Building debacle
- Discayas must return money before seeking immunity – Remulla
- House panel defers 2026 DPWH budget until agency submit changes
- Malabon shifts garbage disposal to Rizal landfill after Navotas closure
- Asian voices needed to 'shape agenda' - AVPN chief
- New Quezon City judge to oversee Dengvaxia vaccine cases, sets hearing
- NHA gives cash aid to families affected by calamity in Manila
- Nartatez vows to be fair in making reassignments
