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://yviap.gangzhifhm.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.
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.
- Searchers retrieve bodies as Afghan quake toll seen to rise
- Govt preparations for WorldSkills PH hosting go 'full blast'
- Marcos says commission on DPWH anomalies to be finalized 'very soon,' mum on Magalong participation
- Japan pledges continued support for Philippine development projects
- Need a pee? Japan has QR code for that
- 15 people hospitalized after double-decker bus crashes outside London's Victoria Station
- Mexican boxer Chavez Jr. released from prison pending trial
- Prince Harry to visit UK on anniversary of queen's death
- Anti-fake news bill filed anew in House
- Tensions soar in Indonesia as protests over police brutality and lawmakers' allowances continue
