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://gnopigrb.gyglfs.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.
- NATO members to reach 2% defense spending goal this year
- Majority of Filipinos unaware of vote buying in 2025 elections, OCTA survey shows
- Escudero says new lease law to make PH more appealing to investors
- Go files housing development bill
- Supreme Court urged to act on fake complaints
- OVP ready to submit to lifestyle check if ordered, no word from Sara
- DoJ to begin preliminary investigation into missing cockfighting enthusiasts
- Angkas supports DICT's amnesty program for unregistered delivery services
- Chinese tourist city Sanya shuts down as typhoon intensifies
- Marcos declares holidays for 2026
