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.
Go files housing development bill
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://www.aichuwei.com
- Pope Leo: We must listen first before speaking
- Navotas holds anti-plastic drive
- Gaps in healthcare services remain - study
- HEADLINES: 15 drug war victims cleared to join Duterte's ICC case | Sept. 7, 2025
- Indonesia leader orders investigation into driver's protest death
- Marcos declares holidays for 2026
- Venezuela deploys warships, drones as US destroyers draw near
- Taiwan: China illegally deploying oil rigs in its waters
- Ukraine's children start new school year in underground classrooms to avoid Russian bombs
- Pump prices increase for 2nd straight week
