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., This news data comes from:http://wbfp-yw-uop-jl.gyglfs.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.
Go files housing development bill
- HEADLINES: 15 drug war victims cleared to join Duterte's ICC case | Sept. 7, 2025
- DPWH engineer in bribery scandal placed under preventive suspension
- Motive probed for US shooting that killed two children, injured 17
- House tackles P881B public works budget amid flood control anomalies
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- Lacson clears air over conflict with Marcoleta on flood control probe
- Zelenskyy seeks talks with Trump and European leaders on slow progress of peace efforts with Russia
- DOST, SM Supermalls partner to empower businesses with sustainable practices
- Rains over Metro Manila, parts of PH as LPA may develop into 'short-lived' tropical depression
- Searchers retrieve bodies as Afghan quake toll seen to rise
