SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://gyglfs.com
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.”
”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
- Marcos suspends importation of regular, well-milled rice for 60 days
- Vietnam evacuates thousands ahead of Typhoon Kajiki
- Thailand's Parliament to vote Friday for a new prime minister
- Marcos embarks on three-day state visit to Cambodia
- Indonesia, US and allies launch joint military drills
- Need a pee? Japan has QR code for that
- HEADLINES: DPWH fires Bulacan engineers, blacklists contractors over anomalous projects | Sept. 5, 2025
- Some areas in Metro Manila, 5 provinces to have power interruptions due to maintenance works
- Japan accelerates missile deployment amid rising regional tensions
- China's Xi holds talks with North Korea's Kim in Beijing
