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.
Go files housing development bill
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://www.yamato-syokunin.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.
- HEADLINES: 15 drug war victims cleared to join Duterte's ICC case | Sept. 7, 2025
- Vietnam marks 80th independence anniversary with huge parade
- Trump to blacklist countries for imprisoning Americans
- Former president Duterte's health stable despite high blood sugar, says VP Sara
- La Niña may return but temperatures will remain high, UN says
- 'Isang' leaves PAR, storm signals lifted - Pagasa
- Support grows for independent probe into flood control projects
- Chery Tiggo survives Creamline in cardiac five-setter in PVL Invitationals
- Pagasa sees cyclone-free week across PH
- Marcos willing to submit to a lifestyle check
