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.”, This news data comes from:http://jani-guj-oue-jjt.yamato-syokunin.com
”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.
- Navotas holds anti-plastic drive
- House suspends DPWH budget deliberations pending submission of changes by agency, DBM
- A summit and parade in China may signal a geopolitical shift
- Nartatez to reassign Torre if he won't retire, says they're 'okay'
- Lacson clears air over conflict with Marcoleta on flood control probe
- Discayas to file raps vs protesters, will attend Senate hearing — lawyer
- COA launches sweeping audit of flood control projects
- House panel defers 2026 DPWH budget until agency submit changes
- Lacson to govt: Protect education budget
- HEADLINES: 15 drug war victims cleared to join Duterte's ICC case | Sept. 7, 2025
