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, This news data comes from:http://htl.705-888.com
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.”
”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.
- PH, Japan conduct search and rescue exercises
- Pacifist Japan struggles to boost troops as China anxiety grows
- DPWH exec fired, 2 others face dismissal over flood control mess
- DPWH to revisit budget, to complete revisions within 2 weeks
- Duterte defense files more motions challenging ICC prosecutor
- Ukraine offers to co-produce drones with Philippines for maritime patrols
- IBP to form good governance panel
- Japan PM decides to quit as opponents seek leadership election
- SpaceX scrubs latest Starship launch due to bad weather
- Escudero urges list of unfundable projects for 2026 budget
