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.
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.”, This news data comes from:http://gangzhifhm.com
”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.
- SC orders comment on petitions vs polls
- Duterte lawyers take aim at ICC prosecutor
- Head of main US health agency abruptly dismissed
- La Niña may return but temperatures will remain high, UN says
- Portugal mourns after Lisbon streetcar accident kills 15
- NKorea's Kim tells Xi hopes to 'steadily develop' ties – KCNA
- OVP ready to submit to lifestyle check if ordered, no word from Sara
- Makati earns high rating in anti-trafficking and violence assessment
- India to cut taxes on hundreds of consumer goods to boost local demand following steep US tariffs
- Private groups back DHSUD chief's anti-corruption policy
