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.
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.”
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://dcc-st-vlps-qogs.052298.com
- PH, Australia, Canada hold maritime drills in West Philippine Sea
- Putin vows not to back down in Ukraine
- DPWH exec asked lawmaker to make budget insertions — Lacson
- PNP chief Torre relieved from post — Palace
- India to cut taxes on hundreds of consumer goods to boost local demand following steep US tariffs
- Heavy rains flood parts of Metro Manila anew
- Quezon City hails directive for national projects to get local permits
- Gloria Arroyo files bill to empower Office of the Vice President
- HEADLINES: Lacson: DPWH exec sought ‘insertions’ | Sept. 8, 2025
- EU massive fine against Google draws Trump’s ire
