SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
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.”, This news data comes from:http://stqowy.gyglfs.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.
Go files housing development bill
- Kris Aquino is alive, says friend amid reports of death
- New law lets foreigner investors lease land for 99 years
- Thai woman jailed for 43 years for lese majeste freed
- Four children killed by parents in Dominican Republic — police
- Drug war victims’ groups slam postponement of ICC hearing on Duterte
- House starts flood control probe
- Filipino weightlifter Vanessa Sarno banned for 2 years for anti-doping violation
- House party leaders want to return proposed 2026 budget to Executive
- Pag-IBIG: More than 25k register for socialized housing units under Expanded 4PH
- Isko Moreno files charges against contractor over illegal demolition of sports complex in Manila
