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://wumnb.yamato-syokunin.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.
- Marcos willing to submit to a lifestyle check
- Ukraine eyes defense deal with PH that includes co-production of drones, says envoy
- Comelec: Postponed village, youth elections not in 2026 budget
- NATO members to reach 2% defense spending goal this year
- Emma Tiglao crowned Miss Grand PH 2025
- 1 of 2 suspects in Pasay robbery, rape arrested
- 2 Marikina policemen accused of molestation
- Lacson lauds Leviste for arrest of DPWH engineer who offered P360M bribe
- Protesters storm Discaya compound for second straight day
- SC acquits suspect in 2012 killing of Dutch aid worker over doubtful testimonies
