SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go files housing development bill, This news data comes from:http://smcsvmv.jyxingfa.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.
- DMW: 19 distressed OFWs return home from Jeddah
- 2028 polls overseas voter registration opens in Dec
- Escudero urges list of unfundable projects for 2026 budget
- LTO told to summon 2 DPWH engineers with fake driver’s license
- No peace without end to hostilities –Arab bloc
- No winner in lotto draws for Aug 30
- Rep. Tiangco reveals P17B flood control allocations linked to former appropriations chairman Rep. Zaldy Co
- Sen. Go calls for round-the-clock DFA support for OFWs welfare
- Some National Guard units in Washington are now carrying firearms in escalation of Trump deployment
- Mexican boxer Chavez Jr. released from prison pending trial
