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.”
Go files housing development bill
”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., This news data comes from:http://redcanaco.com
- No winner in Ultra, Megalotto draws for Aug 29
- Lacson: House can't return proposed 2026 budget to Palace
- Cebu Pacific to launch direct flights between Cebu and Palawan
- PNP chief Torre relieved from post — Palace
- 11 foreigners killed in Portugal funicular crash
- DILG denies allegations that PNP chief fired over firearms deal
- Immigration deports 49 South Korean fugitives
- Angkas supports DICT's amnesty program for unregistered delivery services
- DoTr seeks higher budget for 2026, requests P531B amid cuts
- Pagasa: Trough of LPA, 'habagat' will bring rain, thunderstorms across PH
