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.
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.705-888.com
Go files housing development bill
- Taiwan: China illegally deploying oil rigs in our waters
- Discayas name lawmakers, DPWH officials involved in alleged extortion
- Sen. Go calls for round-the-clock DFA support for OFWs welfare
- Pagasa: Rainy Monday over Visayas, Luzon areas due to LPA, 'habagat'
- Pasig Mayor Vico Sotto attends House flood control probe
- PH, Cambodia business execs urged to boost partnership
- Comelec: Postponed village, youth elections not in 2026 budget
- HEADLINES: 15 drug war victims cleared to join Duterte's ICC case | Sept. 7, 2025
- Scramble for survivors as Afghan earthquake death toll passes 1,400
- Israel ups pressure on Gaza City
