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://yamato-syokunin.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.
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.
- Villanueva: Regularize contractual govt workers
- Bureau of Customs seeks missing luxury cars of contractor Sarah Discaya
- Israel launches new spy satellite in 'message' to enemies
- Filipino member of AHOP K-pop group says Manila concert a dream come true
- HEADLINES: DPWH fires Bulacan engineers, blacklists contractors over anomalous projects | Sept. 5, 2025
- Co out of country for medical reasons
- Konektadong Pinoy bill lapses into law
- Philippines nears universal healthcare, 80% goal achieved -- Marcos
- Trump moves to cut more foreign aid, risking shutdown
- UK refuses to invite Israeli government officials to London arms fair over the war in Gaza
