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://drmq-bkm-gqy-ftyg.gyglfs.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.
Go files housing development bill
- Philippines to launch shame campaign vs traffic violators
- Bonoan freezes DPWH travel passes
- Pacifist Japan struggles to boost troops as China anxiety grows
- Marcos orders lifestyle check on all govt officials amid flood projects probe
- ICC clears applications of 15 drug war victims to join proceedings vs Duterte
- Super Sale: Pag-IBIG offers 40% off on foreclosed assets
- Marcos declares holidays for 2026
- Some areas in Metro Manila, Bulacan to have brownouts due to maintenance work
- A tale of two cities: San Mateo rejects Manila's trash; Rizal opens landfill to Malabon
- Putin lands in Tianjin for summit hosted by China
