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.
Go files housing development bill, This news data comes from:http://www.aichuwei.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
- Pasig fire kills child, injures mother as she tries to save him
- Supreme Court: It’s work as usual in judiciary
- DSWD's guarantee letters now accepted in more establishments
- Jollibee, DepEd partner to develop quick service restaurant curriculum for senior high
- DPWH told to build evacuation centers
- Fears of new political crisis grip France
- Emma Tiglao crowned Miss Grand PH 2025
- PH Construction Board asked to address 'accreditation for sale' scandal
- Sen. Pangilinan Advocates for Credit-Worthy Farmers to Boost Agriculture Sector
- DPWH chief rejects calls to resign as he vows to probe corruption in flood control projects
