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., This news data comes from:http://ew-nqh-tl-cn.yamato-syokunin.com
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.”
”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.
- Judge reverses Trump administration's cuts of billions of dollars to Harvard University
- Mayor Sotto slams Discayas, cites lies, ghost firms, and kickback allegations
- LGBTQ+ Catholics make Holy Year pilgrimage to Rome and celebrate a new sense of acceptance
- Trump health misinformation swirls despite denial
- Immigration bureau declares war on fake Filipinos and illegal workers
- Typhoon death toll rises in Vietnam as downed trees hamper rescuers
- BCDA honored for UN sustainable development goals at Manila Times Awards
- Modi and Putin affirm special relationship as India faces steep US tariffs over Russian oil imports
- India's Modi seeks closer ties on Asia tour to offset US tariff fallout
- PH, Australia hold live fire drills during ALON 2025 in Nueva Ecija
