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, This news data comes from:http://www.jyxingfa.com
”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.
- Protesters storm Discaya compound, Sotto calls for calm
- Pagasa monitors LPA off Cavite, may still become tropical depression
- Made in China? The remarkable tale of Venice's iconic winged lion
- Ukraine eyes defense deal with PH that includes co-production of drones, says envoy
- Discayas to file raps vs protesters, will attend Senate hearing — lawyer
- HEADLINES: Lacson: DPWH exec sought ‘insertions’ | Sept. 8, 2025
- Hontiveros wants Senate to probe Chinese who pretended to be Filipino
- Customs recovers 10 more Discaya luxury cars
- Epstein victims compiling list of sexual abusers
- Indonesian finance minister's home looted as protest anger grows
