SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
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., This news data comes from:http://llui-vk-nnfn-pd.771bg.com
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.”
”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.
- Thailand set for vote on new PM after dissolution bid rejected
- Thai court dismisses prime minister over compromising phone call with Cambodian leader
- Kneecap to play Paris concert in defiance of objections
- Escudero urges list of unfundable projects for 2026 budget
- Lacson to govt: Protect education budget
- Need a pee? Japan has QR code for that
- Sen. Go files bills to push health, social, and labor reforms
- Gloria Arroyo files bill to empower Office of the Vice President
- Globe partners with unconnected.org to provide remote schools with sustainable internet connectivity
- India to cut taxes on hundreds of consumer goods to boost local demand following steep US tariffs
