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., This news data comes from:http://wxpkg.yamato-syokunin.com
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.
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.”
”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.
- Sen. Bong Go files bill for better health worker protection, benefits
- Trump rebrands Department of Defense as 'Department of War'
- Peru’s ex-president Toledo gets a second sentence in the Odebrecht corruption scandal
- Major road closures in Manila announced for 2025 Bar Examinations
- Thai woman jailed for 43 years for lese majeste freed
- Lacson: House can't return proposed 2026 budget to Palace
- Trump escalates crackdown threats with Chicago 'war' warning
- Ukraine eyes defense deal with PH that includes co-production of drones, says envoy
- South Korea's Lee faces pivotal test at first summit with Trump
- LPA trough, 'habagat' to bring rains in parts of Luzon, including Metro Manila
