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.”
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., This news data comes from:http://gangzhifhm.com
- Australia's 'mushroom murderer' handed life in prison with parole
- Zelenskyy seeks talks with Trump and European leaders on slow progress of peace efforts with Russia
- Trump move to cut more foreign aid risking shutdown
- Thai tycoon takes office as PM after royal endorsement
- SEARCH WARRANT
- Manila mayor warns against mobs, orders police to maintain peace and order
- Corruption crackdown: VP Sara Duterte, lawmakers call for deeper probe into government
- Inflation up 1.5% in August
- New Quezon City judge to oversee Dengvaxia vaccine cases, sets hearing
- Japan accelerates missile deployment amid rising regional tensions
