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://www.xs888999.com
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.
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.
Go files housing development bill
- Marcos opens Hyundai's shipyard in PH
- Sen. Go calls for round-the-clock DFA support for OFWs welfare
- Indonesia's delayed new capital risks 'white elephant' status
- Discayas must return money before seeking immunity – Remulla
- Xi says China 'unstoppable' in parade opening speech
- Taylor Swift, Travis Kelce engaged
- Woman accused of murdering her children faces New Zealand trial
- Lookout bulletins out vs Atong Ang, Barretto
- Russian drone, missile attack kills 14, injured 48 in Kyiv
- Venezuela deploys warships, drones as US destroyers draw near
