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://ih-wsx-vb-nphd.redcanaco.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.
- NBI slaps Alice Guo, 35 Others with new graft, misconduct cases
- Comelec: Postponed village, youth elections not in 2026 budget
- Marcos mum on Magalong joining independent commission for DPWH probe
- Trump plans a hefty tax on imported drugs, risking higher prices and shortages
- 2 LPAs monitored inside PAR, bringing rain to Luzon
- Wife and ally of ousted SKorean president indicted by special prosecutors
- Trough of LPA, ‘habagat’ will bring rain showers, thunderstorms across PH
- Emma Tiglao crowned Miss Grand PH 2025
- Comelec defers BARMM district reconstitution
- Thailand's suspended prime minister testifies over phone call that could get her booted from job
