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.”, This news data comes from:http://ycyzqzxyh.com
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.
- Marcos, first lady visit Cambodia to boost ties
- HEADLINES: DPWH fires Bulacan engineers, blacklists contractors over anomalous projects | Sept. 5, 2025
- Isko Moreno files charges against contractor over illegal demolition of sports complex in Manila
- DOTr denies ordering shutdown of online selling platforms
- Drones take on Everest's garbage
- Ukraine drone attacks spark fires at Russia's Kursk nuclear plant, Novatek's Ust-Luga terminal.
- Maduro calls for dialogue hours after Trump’s threat
- Maryland resident is diagnosed with New World screwworm. What to know about the parasite
- Immigration deports 49 South Korean fugitives
- Trump moves to end US tariff exemption for small packages
