SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://lbyl-au-fu-qnll.aichuwei.com
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.
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.
- Some areas in Metro Manila, 5 provinces to have power interruptions due to maintenance works
- MMDA readies for FIVB men’s volleyball
- Thai cannabis-championing tycoon takes office as PM
- Malacañang calls plot to jail VP Duterte 'wild imagination'
- Israel city honors Quezon’s wartime rescue of Jews
- House justice panel to probe US' extradition request for Quiboloy
- Pope Leo meets LGBTQ+ Catholic advocate and vows continuity with Pope Francis' legacy of welcome
- Nartatez vows to be fair in making reassignments
- Marcos expresses support for ‘beleaguered’ Cabinet members
- HEADLINES: 15 drug war victims cleared to join Duterte's ICC case | Sept. 7, 2025
