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://www.xs888999.com
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.”
Go files housing development bill
”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.
- Private groups back DHSUD chief's anti-corruption policy
- Marcos urged to raise WPS resolution at UN
- Indonesian finance minister's home looted as protest anger grows
- Nartatez to reassign Torre if he won't retire, says they're 'okay'
- 'New' position being offered to Torre — Palace
- HEADLINES: DPWH fires Bulacan engineers, blacklists contractors over anomalous projects | Sept. 5, 2025
- What to know about Indonesia's nationwide unrest over lawmakers' perks
- Can a giant seawall save Indonesia's disappearing coast?
- Trump names US ambassador to India
- House party leaders want to return proposed 2026 budget to Executive
