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://gjdunt.jyxingfa.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
- Artikulo Onse' group calls for independent panel to probe flood control corruption
- Former DPWH chief denies links to corruption
- Widespread flooding in Quezon City due to heavy rains, stranding commuters, rendering most roads impassable to vehicles
- Manila Water announces service disruption for over 12K households in Mandaluyong due to leak repair
- Transport chief pushes shame campaign vs errant motorists
- 100K Pakistanis flee amid flood threat
- WBO champ looms as Pacquiao’s next opponent
- House party leaders want to return proposed 2026 budget to Executive
- Thai woman jailed for 43 years for lese majeste freed
- Manila marks National Heroes Day with job fair
