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., This news data comes from:http://gm-apew-mnft-rri.052298.com
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
”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 Grand, Megalotto draws for Aug 27
- 1 in 4 people lack access to safe drinking water — UN
- La Niña forecast from Sept-Dec, expect more tropical cyclones, above normal rainfall -- Pagasa
- Govt monitoring Chinese ‘sleeper agents’ in PH
- New mining law to balance profit, ecology
- Meeting South Korea, Trump could eye new chance with North
- Some National Guard units in Washington are now carrying firearms in escalation of Trump deployment
- Escudero urges list of unfundable projects for 2026 budget
- Trump withdraws Kamala Harris's Secret Service protection
- International media protest over journalist deaths in Gaza
