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.”
Go files housing development bill, This news data comes from:http://ut-ub-fe-jab.ycyzqzxyh.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.
- Court rules on subdivision open spaces, road lots
- Task force cites new threats to media workers
- Metro Manila disaster agencies expand response areas in preparation for 'Big One'
- Workers urge Marcos to stop corruption by banning political dynasties
- Malaysia warns TikTok vs cyberbullying, deepfakes
- Widespread flooding in Quezon City due to heavy rains, stranding commuters, rendering most roads impassable to vehicles
- Pope Leo: We must listen first before speaking
- Scramble for survivors as Afghan earthquake death toll passes 1,400
- Indonesia hosts annual US-led combat drills with Indo-Pacific allies
- Guyana votes amid oil boom, Venezuela tensions
