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://yaju-wxrc-mu-usv.gangzhifhm.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.
Go files housing development bill
- Isko files raps over demolition of sports complex
- Modi, Ishiba agree to boost economic ties
- HEADLINES: DPWH fires Bulacan engineers, blacklists contractors over anomalous projects | Sept. 5, 2025
- ICC clears applications of 15 drug war victims to join proceedings vs Duterte
- Gaza at 'breaking point,' says UN food agency chief after visit
- Catholic, Greek Orthodox clergy to stay in Gaza City to help weakest
- Petitioners challenge claim NAIA fees lowest in Southeast Asia
- Eala writes another historic chapter in Philippine tennis
- SpaceX scrubs latest Starship launch due to bad weather
- HEADLINES: 15 drug war victims cleared to join Duterte's ICC case | Sept. 7, 2025
