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://erlvyiwan.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.”
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.
- Sotto takes oath as Senate president
- House suspends DPWH budget deliberations pending submission of changes by agency, DBM
- Israel military says controls 40 percent of Gaza City
- Immigration: 1st lookout bulletin in effect on 35 individuals, including Discayas, linked to anomalous flood control projects
- French parliament set to eject PM in blow to Macron
- Marcos declares holidays for 2026
- House justice panel to probe US' extradition request for Quiboloy
- Marcos says commission on DPWH anomalies to be finalized 'very soon,' mum on Magalong participation
- Discayas must return money before seeking immunity – Remulla
- DSWD program reduced hunger
