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://www.yamato-syokunin.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.
- Tokyo protests to Beijing over gas field in East China Sea
- ‘40% of Filipinos obese’
- Philippines to launch shame campaign vs traffic violators
- House panel defers 2026 DPWH budget until agency submits changes
- Two foreigners face trafficking complaint in Pasay City
- Taiwan: China illegally deploying oil rigs in our waters
- Ukraine says Russia linked to lawmaker's killing
- Some areas in Metro Manila, Bulacan to have brownouts due to maintenance work
- Sen. Bong Go files bill for better health worker protection, benefits
- Undersea cables cut in the Red Sea, disrupting internet access in Asia and the Mideast
