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.
Go files housing development bill
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://www.gangzhifhm.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.
- Palace to Discayas: Prove allegations
- Suspect in 2012 killing of Dutch aid worker freed
- Surfacing of WPS features ‘likely’ natural occurrence, not due to dumped crushed corals
- SpaceX cancels Starship megarocket launch
- India's Modi meets Japan's Ishiba as he begins Asia tour
- Thai court dismisses prime minister over compromising phone call with Cambodian leader
- Trump says he wants to meet North Korea's Kim again
- Tensions soar in Indonesia as protests over police brutality and lawmakers' allowances continue
- Sotto ousts Escudero in Senate coup
- Labubu fans flock to stores after launch of mini dolls
