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://yhk.771bg.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.”
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.
- South Korea's Lee faces pivotal test at first summit with Trump
- Escudero urges list of unfundable projects for 2026 budget
- NATIONAL ARTIST'S HOMETOWN
- LPA trough, 'habagat' to bring rains in parts of Luzon, including Metro Manila
- House panel defers 2026 DPWH budget until agency submit changes
- LGBTQ+ Catholics make Holy Year pilgrimage to Rome and celebrate a new sense of acceptance
- Navotas inks deal for school feeding project
- DILG denies claims ex-PNP chief ousted over firearms purchase
- French couple kept panther that roamed nearby rooftops
- Thai opposition holds kingmaking summit deciding new PM
