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., This news data comes from:http://onqf.xs888999.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.
- Pagasa monitors LPA off Cavite, may still become tropical depression
- DMW, pharmaceutical firm sign agreement to boost access to medicines, hospital services for OFWs, families
- Bonoan freezes DPWH travel passes
- One in four people lack access to safe drinking water – UN
- HEADLINES: 15 drug war victims cleared to join Duterte's ICC case | Sept. 7, 2025
- Israeli defense minister warns of Gaza City's destruction unless Hamas yields to his country's terms
- New law lets foreigner investors lease land for 99 years
- Former DPWH chief denies links to corruption
- Pope meets with Chagos refugees and delivers message about rights of the weak against the powerful
- Trump health misinformation swirls despite denial
