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.
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation.
Go files housing development bill, This news data comes from:http://aichuwei.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.
Go files housing development bill
- Diokno urges Philippines to rejoin ICC to counter China's aggression
- No winner in Grand, Megalotto draws for Aug 27
- Marcos orders lifestyle check on all govt officials amid flood projects probe
- HEADLINES: DPWH fires Bulacan engineers, blacklists contractors over anomalous projects | Sept. 5, 2025
- Australia government condemns anti-immigration rally in Sydney
- Thailand ruling party moves to dissolve parliament
- Trump escalates crackdown threats with Chicago 'war' warning
- Comelec: Postponed village, youth elections not in 2026 budget
- Sen. Pangilinan Advocates for Credit-Worthy Farmers to Boost Agriculture Sector
- IBP forms committee on good governance to probe corruption
