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
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.”, This news data comes from:http://ycyzqzxyh.com
”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.
- NKorea's Kim tells Xi hopes to 'steadily develop' ties – KCNA
- Trough of LPA, ‘habagat’ will bring rain showers, thunderstorms across PH
- Thai opposition's kingmaking summit fails to back new PM
- MMDA proposes rainwater facilities in Camp Aguinaldo to mitigate EDSA flooding
- Former PNP chief Torre III offered new government post
- Philippines to launch shame campaign vs traffic violators
- Earthquake in eastern Afghanistan kills at least 610 people and injures 1,300
- ‘Large shark’ kills man off Sydney beach
- Thai PM Paetongtarn Shinawatra sacked; new turmoil feared
- Ukraine's children start new school year in underground classrooms to avoid Russian bombs
