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.
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://bao-pf-bduu-nw.xs888999.com
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.
- One in four people lack access to safe drinking water – UN
- Xi meets Modi as China and India seek to rebuild ties
- LPA has big chance of intensifying into tropical cyclone to be named ‘Kiko’
- Napolcom confirms Lt. Gen. Nartatez as acting PNP chief
- Taiwan: China illegally deploying oil rigs in its waters
- Scramble for survivors as Afghan earthquake death toll passes 1,400
- Taiwan, China locked in historical word war
- PH doesn't recognize Taiwan as sovereign state, stands by 'One China Policy' -- Foreign Affairs chief
- LGBTQ+ Catholics make Holy Year pilgrimage to Rome and celebrate a new sense of acceptance
- Tensions soar in Indonesia as protests over police brutality and lawmakers' allowances continue
