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://www.aichuwei.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.
- 17 House lawmakers press Marcos administration to raise WPS issue to UN
- Portugal mourns after Lisbon streetcar accident kills 15
- HEADLINES: Lacson: DPWH exec sought ‘insertions’ | Sept. 8, 2025
- Ballots for oct 13 BARMM polls completed – Comelec
- Modi reaffirms India's support for Ukraine peace settlement during call with Zelenskyy
- Thai PM Paetongtarn Shinawatra sacked; new turmoil feared
- Pangilinan urges Marcos Jr. to prioritize bill aiding farmers, fishermen
- 11 foreigners killed in Portugal funicular crash
- Philippines nears universal healthcare, 80% goal achieved -- Marcos
- Head of main US health agency abruptly dismissed
