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://tqnhlb.xs888999.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.
- Can a giant seawall save Indonesia's disappearing coast?
- WBO champ looms as Pacquiao’s next opponent
- Israel tells residents to leave Gaza City ahead of offensive
- Marcos Jr. seeks 'fair, impartial' Ombudsman - Palace
- China to bolster non-Western alliances at summit, parade
- Kneecap to play Paris concert in defiance of objections
- DFA: No US extradition request for Quiboloy
- Gasoline, diesel prices to increase again next week
- DPWH exec fired, 2 others face dismissal over flood control mess
- SC acquits suspect in 2012 killing of Dutch aid worker over doubtful testimonies
