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://tpuh-an-urjl-lqo.771bg.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.
- Lookout bulletins out vs Atong Ang, Barretto
- Nartatez vows fair assignments, better resource management as new PNP chief
- Trump threatens Russia with sanctions after biggest aerial attack on Ukraine
- PH has chance of getting UNSC seat - Manalo
- Hontiveros pushes P15,000 salary hike for teachers
- Sen. Go files bills to push health, social, and labor reforms
- Israel tells residents to leave Gaza City ahead of offensive
- House panel defers 2026 DPWH budget until agency submits changes
- PNP chief supports lowering age of discernment
- Trump moves to end US tariff exemption for small packages
