SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://cwq-vu-fhs-nln.ycyzqzxyh.com
Go files housing development bill
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.
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.”
Go files housing development bill
”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.
- Lacson to give Dizon 'damning' proof vs DPWH 'rotten fruits'
- Marcos orders 'sweeping review' of DPWH budget under 2026 NEP
- Macron says 26 countries pledge troops as a reassurance force for Ukraine after war ends
- Pump prices increase for 2nd straight week
- OVP ready to submit to lifestyle check if ordered, no word from Sara
- Marcos suspends importation of regular, well-milled rice for 60 days
- Group presses DA on delayed fertilizer subsidies
- 25 countries suspend postal services to US over tariffs – UN
- Navotas inks deal for school feeding project
- UN watchdog finds uranium traces at suspected Syrian former nuclear site
