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., This news data comes from:http://tym-ktoo-sb-ti.jyxingfa.com
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.
Go files housing development bill
- DILG suspends classes, gov’t work in 17 areas
- COA probes Iqbal on spending of P1.7B in one day
- US and European officials meet to discuss new sanctions on Russia
- HEADLINES: 15 drug war victims cleared to join Duterte's ICC case | Sept. 7, 2025
- Some areas in Metro Manila, 5 provinces to have power interruptions due to maintenance works
- Malaysia warns TikTok vs cyberbullying, deepfakes
- 15 people hospitalized after double-decker bus crashes outside London's Victoria Station
- La Niña may return but temperatures will remain high, UN says
- No winner in Ultra, Megalotto draws for Aug 29
- Students, faculty file complaint against Universidad de Manila president
