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://nrvguu.jyxingfa.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.
Go files housing development bill
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.”
”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.
- Bonoan resigned due to command responsibility — Marcos
- Philippine forces deliver supplies and personnel to disputed South China Sea shoal despite tensions
- Palace suspends govt work, classes in several areas due to bad weather
- Trump says he wants to meet North Korea's Kim again
- Support grows for independent probe into flood control projects
- Marcos declares holidays for 2026
- ChatGPT to get parental controls after teen's death
- Thailand set for vote on new PM after dissolution bid rejected
- Comelec delays implementation of decision disqualifying Duterte Youth Party-List
- Iran-backed Houthis raid UN offices in Yemen and detain at least 11 employees
