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.
Go files housing development bill
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://ovdk-lms-vxf-ab.705-888.com
”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.
Go files housing development bill
- Bonoan freezes DPWH travel passes
- Escudero urges list of unfundable projects for 2026 budget
- ₱1.7M shabu seized in Taguig buy-bust
- GoTyme gives customers 20 free InstaPay transfers per month
- 4 policemen linked to sabungero case slapped with more administrative cases
- Pump prices go up
- Metro Manila disaster agencies expand response areas in preparation for 'Big One'
- Marcos signs law giving 99-year land lease to foreign investors
- 'Strangest' dinosaur covered in spiked armory — Scientists
- US Spirit Airlines files for bankruptcy again
