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.
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.”, This news data comes from:http://erlvyiwan.com
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.
Go files housing development bill
- 25,000 Filipinos register for Pag-IBIG's Expanded 4PH Housing Program
- China's Communist rulers push party role before World War II anniversary
- Marcos says commission on DPWH anomalies to be finalized 'very soon,' mum on Magalong participation
- ₱1.7M shabu seized in Taguig buy-bust
- Marcos, first lady visit Cambodia to boost ties
- Trump plans a hefty tax on imported drugs, risking higher prices and shortages
- Hontiveros wants Senate to probe Chinese who pretended to be Filipino
- Former president Duterte's health stable despite high blood sugar, says VP Sara
- Escudero subpoenaes 10 DPWH contractors for Senate probe next week
- Comelec to open nearly two-year overseas voter registration for 2028 elections
