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.
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation., This news data comes from:http://yamato-syokunin.com
Go files housing development bill
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
- Customs preparing report on Discayas’ 28 luxury cars
- Israel flattens high-rise as it tells Gaza City residents to flee
- 4 of 15 contractors on Marcos list have clean records – DPWH
- Marcos signs laws creating more court branches
- Marcos approves EO for commission to probe flood project anomalies
- HEADLINES: 15 drug war victims cleared to join Duterte's ICC case | Sept. 7, 2025
- Government work, classes on Tuesday suspended due to bad weather
- Pag-IBIG: More than 25k register for socialized housing units under Expanded 4PH
- Marcos to youth: Help in nation-building
- House committee subpoenas Sarah Discaya, 4 other contractors over flood control project anomalies
