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., This news data comes from:http://wdhawji.gyglfs.com
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.
- House starts flood control probe
- Inflation up 1.5% in August
- PH, Japan conduct search and rescue exercises
- Washington makes military aid overtures to Sahel juntas
- House panel defers 2026 DPWH budget until agency submit changes
- Chinese sleeper agents' and PLA operatives a threat, Lacson warns
- AKG chief denies using ‘kidnap’ car for personal purposes
- Mexican drug lord faces life in prison after pleading guilty in US court
- UK, Japan, South Korea endure hottest summer on record
- Thai cannabis-championing tycoon takes office as PM
