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://xs888999.com
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.
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.
- Ukraine's children start new school year in underground classrooms to avoid Russian bombs
- North Korea test-fires two 'new' air defense missiles
- US strike marks shift to military action against drug cartels
- Palace rejects China's 'troublemaker' tag
- Floods kill over 30 in Indian-controlled Kashmir, displace 150,000 in east Pakistan
- Drones take on Everest's garbage
- No winner in lotto draws for Aug 28
- Marcos leads oath taking of new officers of League of Provinces of the Philippines
- Wildfires producing 'witches' brew' of air pollution – UN
- Japan accelerates missile deployment amid rising regional tensions
