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.
Go files housing development bill, This news data comes from:http://oini.gangzhifhm.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.
- Four children killed by parents in Dominican Republic — police
- Thai opposition holds kingmaking summit deciding new PM
- Heavy rain causes flooding, landslides and 8 deaths in Vietnam and Thailand
- Pasig fire kills child, injures mother as she tries to save him
- Angkas supports DICT's amnesty program for unregistered delivery services
- US senators to reinforce 'partnership' with Taiwan
- Tax bureau hunts down contractors over questionable flood control deals
- Aid flotilla with Greta Thunberg set to sail for Gaza
- 25,000 Filipinos register for Pag-IBIG's Expanded 4PH Housing Program
- HEADLINES: 15 drug war victims cleared to join Duterte's ICC case | Sept. 7, 2025
