SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go files housing development bill
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, This news data comes from:http://kgsucmsd.771bg.com
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.
- DOJ issues lookout order vs Atong Ang, others over missing cockfighters
- Need a pee? Japan has QR code for that
- Marcos soon to create commission to probe flood control projects
- Senate subpoenas 8 DPWH officials, contractors in flood control probe
- UN force in Lebanon slams Israeli drone attack on peacekeepers
- HEADLINES: 15 drug war victims cleared to join Duterte's ICC case | Sept. 7, 2025
- Head of main US health agency abruptly dismissed
- Sen. Bong Go files bill for better health worker protection, benefits
- PH Navy spots 20 Chinese ships near BRP Sierra Madre
- AFP: It would take more than a tugboat to tow BRP Sierra Madre from Ayungin Shoal
