Senator Christopher “Bong” Go has filed Senate Bill No. 685 seeking to establish a National Housing Development, Production and Financing Program, which aims to provide long-term solutions to homelessness and poor housing conditions across the country.

Go said the measure is intended to move beyond temporary or fragmented housing efforts by securing sustained funding, strengthening key shelter agencies, and focusing on the needs of underprivileged and homeless families.

“A specific housing and financing program is pertinent to meet the country’s growing social housing demands and meet the needs of numerous underprivileged and homeless citizens.” Go explained.

If enacted, the bill would create a unified national housing strategy led by the Department of Human Settlements and Urban Development (DHSUD). The program would be implemented in coordination with the National Housing Authority, Social Housing Finance Corporation, and the National Home Mortgage Finance Corporation, with each agency assigned specialized roles in resettlement, disaster recovery, and community housing.

The measure also allows local governments to impose a 0.5 percent socialized housing tax on urban land values, with proceeds dedicated to rental housing and public shelter projects. Go is also pushing for an increase in the capital base of the NHMFC from P5.5 billion to P50 billion to boost lending capacity.

Go emphasized that access to housing should be treated as both a social responsibility and an economic driver.

“The issue of social housing remains a pressing concern, not only in the Philippines but globally,” he said, citing United Nations data that over 25 percent of the world’s urban population lives in informal settlements.

The bill also encourages partnerships with private developers by offering incentives for participating in socialized and low-cost housing, with such projects credited toward compliance with existing housing development laws.

To raise more funds, the proposal includes a mechanism for securitization, allowing bonds and other financial instruments issued for housing to be exempt from taxes and registration fees.

If passed, the measure is expected to help address the country’s housing backlog by 2040, while offering poor Filipino families more options for safe and affordable shelter.