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.
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://gangzhifhm.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
- HEADLINES: DPWH fires Bulacan engineers, blacklists contractors over anomalous projects | Sept. 5, 2025
- Labubu fans flock to stores after launch of mini dolls
- Kanlaon Volcano spews ash
- ‘Gomez ignorant of how media works’
- Hope dwindles for survivors days after deadly Afghan quake
- Malacañang hits back at VP Duterte's criticism on flood scam probe
- Lacson: House can't return proposed 2026 budget to Palace
- Russian drone, missile attack kills 14, injured 48 in Kyiv
- Marcos signs mining tax regime law
- DoJ to begin preliminary investigation into missing cockfighting enthusiasts
