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.
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., This news data comes from:http://qcbc.redcanaco.com
- DOH unveils 7 priority measures at House hearing
- Marcos thumbs down return of proposed 2026 budget to Malacañang
- Lacson replaces Marcoleta as Blue Ribbon panel chairman
- Some National Guard units in Washington are now carrying firearms in escalation of Trump deployment
- Israeli army: Gaza City now 'a dangerous combat zone'
- 25 countries suspend postal services to US over tariffs – UN
- Petitioners challenge claim NAIA fees lowest in Southeast Asia
- Rep. Tiangco reveals P17B flood control allocations linked to former appropriations chairman Rep. Zaldy Co
- Hontiveros urges probe on Chinese faking Filipino identity
- French couple kept panther that roamed nearby rooftops
