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.
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., This news data comes from:http://052298.com
- Xi says China 'unstoppable' in parade opening speech
- Tokyo protests to Beijing over gas field in East China Sea
- Lacson clears air over conflict with Marcoleta on flood control probe
- Argentine police recover Nazi-looted painting spotted in property ad
- Bolsonaro verdict looms as Brazil coup trial closes
- 40% of Filipinos are now obese, says Health expert
- LPA has big chance of intensifying into tropical cyclone to be named ‘Kiko’
- MMDA proposes rainwater facilities in Camp Aguinaldo to mitigate EDSA flooding
- Wildfires producing 'witches' brew' of air pollution – UN
- Some National Guard units in Washington are now carrying firearms in escalation of Trump deployment
