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://wvs-oio-ry-khok.jyxingfa.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.
- Widespread flooding in Quezon City due to heavy rains, stranding commuters, rendering most roads impassable to vehicles
- Dizon to order DPWH officials to submit courtesy resignation
- Immigration deports 49 South Korean fugitives
- Searchers retrieve bodies as Afghan quake toll seen to rise
- House committee subpoenas Sarah Discaya, 4 other contractors over flood control project anomalies
- Social pension eyed for indigent seniors
- Japan pledges continued support for Philippine development projects
- House holds budget review with 21 civil society organizations
- Majority of Filipinos unaware of vote buying in 2025 elections, OCTA survey shows
- LGBTQ+ Catholics make Holy Year pilgrimage to Rome and celebrate a new sense of acceptance
