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, This news data comes from:http://fbb-smsj-jo-moe.771bg.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.
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.
- No winner in Grand, Megalotto draws for Aug 27
- Court orders Immigration to release of Global Ferronickel Chairman Joseph Sy
- Gomez-Estoesta named court administrator by Supreme Court
- Shooting of Indonesian diplomat in Peru investigated as a contract killing
- DoTr seeks higher budget for 2026, requests P531B amid cuts
- Eala writes another historic chapter in Philippine tennis
- Nartatez relieves Fajardo as PNP spokesman
- Heavy rains flood parts of Metro Manila anew
- HEADLINES: Lacson: DPWH exec sought ‘insertions’ | Sept. 8, 2025
- Petitioners challenge claim NAIA fees lowest in Southeast Asia
