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., This news data comes from:http://mxo-xdc-vbv-ilu.052298.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
- Some areas in Metro Manila, Bulacan to have brownouts due to maintenance work
- San Juan commemorates first revolution under Spanish rule in 129th Araw ng Pinaglabanan
- Classes suspended in 10 Metro Manila cities due to rains
- Former DPWH chief denies links to corruption
- Former Bulacan district engineer admits going to casinos
- Major road closures in Manila announced for 2025 Bar Examinations
- Thai cannabis-championing tycoon takes office as PM
- Marcos signs mining tax regime law
- Trump moves to end US tariff exemption for small packages
- Students, faculty file complaint against Universidad de Manila president
