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.
Go files housing development bill, This news data comes from:http://erlvyiwan.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.
- LPA trough, 'habagat' to bring rains in parts of Luzon, including Metro Manila
- Some areas in Metro Manila, Bulacan to have brownouts due to maintenance work
- Indonesia hosts annual US-led combat drills with Indo-Pacific allies
- Villanueva: Regularize contractual govt workers
- Trump plans a hefty tax on imported drugs, risking higher prices and shortages
- DPWH Secretary Dizon vows to slash 'staggering' P268B flood control budget
- House panel defers 2026 DPWH budget until agency submit changes
- Trump escalates crackdown threats with Chicago 'war' warning
- Japan prince comes of age as succession crisis looms
- Sen. Go calls for round-the-clock DFA support for OFWs welfare
