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://jghwkab.jyxingfa.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.
- BuCor chief calls for major reforms
- Marcos declares holidays for 2026
- President Marcos Jr. visits Cambodia to strengthen ties
- Israel expects 1 million Gazans to flee new offensive
- Duterte Youth brings Comelec cancelation battle to Supreme Court
- Tokyo protests to Beijing over gas field in East China Sea
- South Korea to ban mobile phones in school classrooms
- Trump withdraws Kamala Harris's Secret Service protection
- Filipino priest wins Ramon Magsaysay Award for activism against Duterte's drug war
- House committee subpoenas Sarah Discaya, 4 other contractors over flood control project anomalies
