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, This news data comes from:http://ldaxs.gyglfs.com
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
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.
- Pagasa monitors LPA off Cavite, may still become tropical depression
- Marcos declares holidays for 2026
- Some National Guard units in Washington are now carrying firearms in escalation of Trump deployment
- SpaceX cancels Starship megarocket launch in latest setback
- Malacañang hits back at VP Duterte's criticism on flood scam probe
- Lawmaker questions 340% NTF-ELCAC budget increase
- WorldSkills Asean Manila begins
- Taiwan: China illegally deploying oil rigs in our waters
- Lacson clears air over conflict with Marcoleta on flood control probe
- Cebu Pacific to launch direct flights between Cebu and Palawan
