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://gangzhifhm.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
- Thai Court: PM Shinawatra violated ethics rules
- Trump move to cut more foreign aid risking shutdown
- Ukraine's children start new school year in underground classrooms to avoid Russian bombs
- DPWH Secretary Dizon orders perpetual ban of Wawao Builders, Syms Construction for ghost projects
- Bersamin letter proves Torre reassignments ‘valid’
- 13 massage therapists robbed, 2 cry rape
- Choose Ombudsman with integrity, intelligence, insight – Cayetano
- Nartatez rules out 'quota' arrests
- 20 people missing after deadly Indonesia protests
- San Juan commemorates first revolution under Spanish rule in 129th Araw ng Pinaglabanan
