SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://www.aichuwei.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.
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.
Go files housing development bill
- WBO champ looms as Pacquiao’s next opponent
- 20 people missing after deadly Indonesia protests
- Palace hits Discayas over ‘misinformation’ on PH film center project
- LTO told to summon 2 DPWH engineers with fake driver’s license
- Bureau of Customs seeks missing luxury cars of contractor Sarah Discaya
- House panel defers 2026 DPWH budget until agency submits changes
- DoJ to begin preliminary investigation into missing cockfighting enthusiasts
- GoTyme gives customers 20 free InstaPay transfers per month
- DBP launches P50M program for education
- Marcos willing to submit to a lifestyle check
