SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://ykkxryuy.771bg.com
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.”
”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.
- 'Mockery of science': US experts blast Trump climate report
- A suicide bombing near a political rally in southwestern Pakistan kills 13 and wounds 30
- Trump wants to meet Norea Korea's Kim again
- 2 policemen placed under preventive custody for allegedly molesting a female colleague in Marikina
- Suspect in 2012 killing of Dutch aid worker freed
- In Taiwan, competing narratives over the meaning of China's massive military show
- Marcos suspends importation of regular, well-milled rice for 60 days
- No winner in lotto draws for Aug 30
- Workers urge Marcos to stop corruption by banning political dynasties
- Cusi charged over Malampaya deal
