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.
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://gvdc-chvd-fg-kx.ycyzqzxyh.com
- Follow the trucks: Why investors are looking south of Metro Manila
- US warship heading toward Caribbean Sea
- Escudero urges list of unfundable projects for 2026 budget
- Sara favors punishing officials, lifestyle checks
- Sotto willing to testify in Senate probe of flood control anomalies if summoned
- First millennial saint: Vatican to canonize 'God's Influencer' Carlo Acutis
- ICC clears applications of 15 drug war victims to join proceedings vs Duterte
- In Taiwan, competing narratives over the meaning of China's massive military show
- MMDA readies for FIVB men’s volleyball
- Malabon shifts garbage disposal to Rizal landfill after Navotas closure
