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, This news data comes from:http://www.gyglfs.com
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.”
”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.
- DICT grants amnesty to unregistered delivery firms
- IBP forms committee on good governance to probe corruption
- Leviste files charges against DPWH engineer who tried to bribe him
- Bersamin letter proves Torre reassignments ‘valid’
- Makati distributes Blu Card cash aid
- Private groups back DHSUD chief's anti-corruption policy
- LTO summons driver who berated enforcer
- Alex Eala makes history With comeback victory at US Open
- Malabon averts crisis with garbage deal
- HEADLINES: 15 drug war victims cleared to join Duterte's ICC case | Sept. 7, 2025
