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.
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation., This news data comes from:http://xs888999.com
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.
- 9 dead in Ecuador after bus plunges into ravine
- Thailand's Parliament to vote Friday for a new prime minister
- AFP: It would take more than a tugboat to tow BRP Sierra Madre from Ayungin Shoal
- Bonoan freezes DPWH travel passes
- Magnitude 5.1 earthquake rattles Surigao del Sur
- French parliament set to eject PM in blow to Macron
- Ballots for oct 13 BARMM polls completed – Comelec
- Eala writes another historic chapter in Philippine tennis
- Lawmaker linked to anomalous flood control projects in US for medical reasons, says House spokesman
- Seoul says over 300 South Koreans held in US battery plant site raid
