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://yamato-syokunin.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.
- No winner in Ultra, Megalotto draws for Sept 5
- Hontiveros pushes P15,000 salary hike for teachers
- Majority of Filipinos unaware of vote buying in 2025 elections, OCTA survey shows
- 'Ondoy'-level rains swamp Quezon City
- Rise in HFMD cases due to better reporting, not outbreak
- BuCor chief calls for major reforms
- Thai tycoon takes office as PM after royal endorsement
- Police general suspended for ‘obstruction’ of evidence in case of missing sabungeros
- Marcos to create independent commission to investigate flood control anomalies
- Sen. Go files bills to push health, social, and labor reforms
