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., This news data comes from:http://gyglfs.com
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.
- Major road closures in Manila announced for 2025 Bar Examinations
- Comelec probes 15 contractors for illegal campaign donations
- Immigration deports 49 South Korean fugitives
- Senate subpoenas 8 DPWH officials, contractors in flood control probe
- Konektadong Pinoy bill lapses into law
- Trough of LPA, ‘habagat’ will bring rain showers, thunderstorms across PH
- Thai opposition holds kingmaking summit deciding new PM
- BuCor chief calls for major reforms
- Dial 911: New nationwide emergency hotline to go live on Sept. 11
- Court rules on subdivision open spaces, road lots
