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., This news data comes from:http://www.yamato-syokunin.com
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.
- HEADLINES: DPWH fires Bulacan engineers, blacklists contractors over anomalous projects | Sept. 5, 2025
- Trump rebrands Department of Defense as 'Department of War'
- UN food agency chief says women and children are starving in Gaza and pressed Netanyahu on aid
- Marcos soon to create commission to probe flood control projects
- 1 in 4 people lack access to safe drinking water — UN
- P1.7-M shabu seized in Taguig buy-bust
- Japan PM decides to quit as opponents seek leadership election: reports
- PNP chief Torre relieved from post — Palace
- Immigration: 1st lookout bulletin in effect on 35 individuals, including Discayas, linked to anomalous flood control projects
- Evicted from their forests, Kenyan hunter-gatherers fight for their rights
