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://www.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.
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.
- Wife of Australian man wanted in police killings urges him to surrender
- House justice panel to probe US' extradition request for Quiboloy
- Modi and Putin affirm special relationship as India faces steep US tariffs over Russian oil imports
- DILG to roll out nationwide unified 911 hotline on Sept. 11
- Marcos sacks PNP Chief Torre, saying it was 'difficult but necessary'
- Marcos orders 'sweeping review' of DPWH budget under 2026 NEP
- Philippines nears universal healthcare, 80% goal achieved -- Marcos
- DOTr denies ordering shutdown of online selling platforms
- Can a giant seawall save Indonesia's disappearing coast?
- Most Filipinos distrust China, see it as biggest threat — OCTA survey
