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://redcanaco.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.”
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.
- HEADLINES: DPWH fires Bulacan engineers, blacklists contractors over anomalous projects | Sept. 5, 2025
- Marcos urged to raise WPS resolution at UN
- Marcos mum on Magalong joining independent commission for DPWH probe
- Escudero subpoenas 5 contractors, 3 DPWH executives to Senate probe
- US halts 80% complete, huge offshore wind farm
- India's Modi meets Japan's Ishiba as he begins Asia tour
- Repairs on Chinese ship in Bajo de Masinloc collision may take 2 months - PH Navy
- Artikulo Onse' group calls for independent panel to probe flood control corruption
- Pangilinan pushes coordinated water management
- Philippines calls for Gaza ceasefire amid humanitarian crisis
