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.
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., This news data comes from:http://frakymr.ycyzqzxyh.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
- Nartatez rules out 'quota' arrests
- HEADLINES: Lacson: DPWH exec sought ‘insertions’ | Sept. 8, 2025
- Philippines calls for Gaza ceasefire amid humanitarian crisis
- President pushes probe on flood control mess amid congressional inquiry
- Repairs on Chinese ship in Bajo de Masinloc collision may take 2 months - PH Navy
- Mexican senators come to blows after heated debate
- Globe partners with unconnected.org to provide remote schools with sustainable internet connectivity
- Trump escalates crackdown threats with Chicago 'war' warning
- Afghanistan earthquake kills more than 800
- Thai opposition holds kingmaking summit deciding new PM
