SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go files housing development bill
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.
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.”
Go files housing development bill
”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://pdh-nt-fo-gbcl.gyglfs.com
- Pangilinan urges Marcos Jr. to prioritize bill aiding farmers, fishermen
- HEADLINES: 15 drug war victims cleared to join Duterte's ICC case | Sept. 7, 2025
- Plea written in blood saves Chinese woman trapped in locked room
- Earthquake in eastern Afghanistan kills at least 610 people and injures 1,300
- Marcos signs mining tax regime law
- Two foreigners face trafficking complaint in Pasay City
- DFA: No US extradition request for Quiboloy
- MMDA inks deal with DBM for G-3 program
- House probe tackles flood control corruption: Lawmakers disclose conflicts of interest
- Taiwan, China locked in historical word war
