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.
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.”, This news data comes from:http://wbv-cttr-jb-jqlb.gyglfs.com
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.
- DOJ issues lookout order vs Atong Ang, others over missing cockfighters
- Made in China? The remarkable tale of Venice's iconic winged lion
- Supreme Court censures Marikina judge over parking dispute with PAO lawyer
- Trump to blacklist countries for imprisoning Americans
- South Korea's Lee faces pivotal test at first summit with Trump
- Russia hits seat of Ukraine government in war's biggest air attack
- SSS hails Marcos, Recto for initiating pension reforms, including one to be rolled out in Sept
- Thai PM Paetongtarn Shinawatra sacked; new turmoil feared
- HEADLINES: DPWH fires Bulacan engineers, blacklists contractors over anomalous projects | Sept. 5, 2025
- Marcos suspends importation of regular, well-milled rice for 60 days
