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
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://771bg.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.
- House panel defers 2026 DPWH budget until agency submits changes
- PH Army showcases disaster response capabilities before Thai defense officials
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- Diokno urges Philippines to rejoin ICC to counter China's aggression
- Trump: Many Americans ‘like a dictator’
- Marcos sacks PNP Chief Torre, saying it was 'difficult but necessary'
- Pangilinan urges Marcos Jr. to prioritize bill aiding farmers, fishermen
- DSWD program reduced hunger
- Villanueva: Regularize contractual govt workers
- Chinese warships shadow Philippine, Australian, Canadian drills in Zambales
