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://www.052298.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.
- Trump plans a hefty tax on imported drugs, risking higher prices and shortages
- Bishops demand broad probe into flood project corruption
- Duterte’s defense team outlines ICC strategy
- Marcos to attend UN meet in New York in Sept- Palace
- Sara favors punishing officials, lifestyle checks
- Leviste files charges against DPWH engineer who tried to bribe him
- Marcos says commission on DPWH anomalies to be finalized 'very soon,' mum on Magalong participation
- Go files housing development bill
- Marcos orders 'sweeping review' of DPWH budget under 2026 NEP
- COA launches sweeping audit of flood control projects
