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://ycyzqzxyh.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.
Go files housing development bill
- Israeli protesters call for hostage deal ahead of cabinet meeting
- Macron rushes to find new French PM
- Pacifist Japan struggles to boost troops as China anxiety grows
- Japan accelerates missile deployment amid rising regional tensions
- Co out of country for medical reasons
- New judge to handle Dengvaxia cases named; hearing set
- Taiwan: China illegally deploying oil rigs in our waters
- COA probes Iqbal on spending of P1.7B in one day
- Modi and Putin affirm special relationship as India faces steep US tariffs over Russian oil imports
- Robinsons to build 9-story office building in Davao City
