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.
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., This news data comes from:http://www.gyglfs.com
- 'New' position being offered to Torre — Palace
- Gasoline, diesel prices to increase by P1 next week
- Modi, Ishiba agree to boost economic ties
- Indonesia turns down ear-splitting 'haram' street parties
- Cusi charged over Malampaya deal
- La Niña may return but temperatures will remain high, UN says
- Comelec to open nearly two-year overseas voter registration for 2028 elections
- Rains over Metro Manila, parts of PH as LPA may develop into 'short-lived' tropical depression
- HEADLINES: DPWH fires Bulacan engineers, blacklists contractors over anomalous projects | Sept. 5, 2025
- Police officers face more charges in missing cockfight enthusiasts case
