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.
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., This news data comes from:http://ngv-is-su-nv.705-888.com
- Rise in HFMD cases due to better reporting, not outbreak
- Red Cross head says mass evacuation of Gaza City 'impossible'
- Marcos signs law giving 99-year land lease to foreign investors
- DSWD's guarantee letters now accepted in more establishments
- COA probes Iqbal on spending of P1.7B in one day
- HEADLINES: 15 drug war victims cleared to join Duterte's ICC case | Sept. 7, 2025
- Tourists dice with danger on Hanoi's train street
- Maryland resident is diagnosed with New World screwworm. What to know about the parasite
- Super Sale: Pag-IBIG offers 40% off on foreclosed assets
- Repairs on Chinese ship in Bajo de Masinloc collision may take 2 months - PH Navy
