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.
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://redcanaco.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.
- Social media erupts: Politicians' children face backlash for flaunting wealth
- Israeli protesters call for hostage deal ahead of cabinet meeting
- Australia to tackle deepfake nudes, online stalking
- Lacson: DPWH exec sought ‘insertions’
- Thailand set for vote on new PM after dissolution bid rejected
- Public Works chief to press criminal charges against Bulacan engineer
- Putin meets Kim, praises North Korean troops in Russia
- Pagasa monitors 2 LPAs inside PAR; prevailing 'habagat' brings rain across PH
- Discaya’s construction companies competed against each other during biddings
- Majority of Filipinos unaware of vote buying in 2025 elections, OCTA survey shows
