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://di-rn-sg-olm.yamato-syokunin.com
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.
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.
- Dizon to abolish DPWH internal special investigation team created to look into the flood control anomalies
- 15 drug war victims cleared to join Duterte's ICC case
- Japan pledges continued support for Philippine development projects
- Marcos embarks on three-day state visit to Cambodia
- Marcos declares holidays for 2026
- Trump wants to meet Norea Korea's Kim again
- Earthquake in eastern Afghanistan kills at least 610 people and injures 1,300
- PNP chief Torre relieved, Nartatez to take over
- Sri Lanka's jailed ex-president Wickremesinghe granted bail
- Trump withdraws Kamala Harris's Secret Service protection
