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.”, This news data comes from:http://aichuwei.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.
- La Niña forecast from Sept-Dec, expect more tropical cyclones, above normal rainfall -- Pagasa
- Comelec completes ballot printing for Bangsamoro elections despite redistricting dispute
- LPA may still develop into short-lived tropical cyclone
- Escudero subpoenas 5 contractors, 3 DPWH executives to Senate probe
- COA launches sweeping audit of flood control projects
- CBCP president urges Israel to stop military operations in Gaza
- Gasoline, diesel prices to increase again next week
- DSWD's guarantee letters now accepted in more establishments
- HEADLINES: DPWH fires Bulacan engineers, blacklists contractors over anomalous projects | Sept. 5, 2025
- Meeting South Korea, Trump could eye new chance with North
