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., This news data comes from:http://ql-mw-qsbs-utnf.yamato-syokunin.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.
- DILG suspends classes, gov’t work in 17 areas
- HEADLINES: 15 drug war victims cleared to join Duterte's ICC case | Sept. 7, 2025
- Magnitude 5.3 earthquake rocks Dinagat Islands
- Pope declares 'God's influencer' first millennial saint
- Unnamed skeletons? US museum at center of ethical debate
- 13 massage therapists robbed, 2 cry rape
- Comelec defers reconstitution of BARMM parliamentary districts
- Israel tells residents to leave Gaza City ahead of offensive
- Pagasa: Rainy Monday over Visayas, Luzon areas due to LPA, 'habagat'
- Four children killed by parents in Dominican Republic — police
