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://wufd-gv-ntr-frbe.ycyzqzxyh.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
- Escudero says new lease law to make PH more appealing to investors
- SC clarifies rules on land ownership
- Pag-IBIG: More than 25k register for socialized housing units under Expanded 4PH
- Marcos leads oath taking of new officers of League of Provinces of the Philippines
- DILG suspends classes, gov’t work in 17 areas
- HEADLINES: 15 drug war victims cleared to join Duterte's ICC case | Sept. 7, 2025
- 'Pink and green' protests call for a reset in Indonesia
- Discaya’s construction companies competed against each other during biddings
- Filipino weightlifter Vanessa Sarno banned for 2 years for anti-doping violation
- DOTr denies ordering shutdown of online selling platforms
