SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
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., This news data comes from:http://www.705-888.com
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.”
Go files housing development bill
”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.
- Firefighters arrested by US immigration officials
- Youth group to SC: Stop postponement of BSKE
- Trump says he wants to meet North Korea's Kim again
- Magnitude 5.1 earthquake rattles Surigao del Sur
- NKorea's Kim tells Xi hopes to 'steadily develop' ties – KCNA
- Australia government condemns anti-immigration rally in Sydney
- Leviste files charges against DPWH engineer who tried to bribe him
- Monsoon rains flood Mandaluyong, Parañaque — MMDA
- Australia expels Iran ambassador over antisemitic attacks
- India's Modi meets Japan's Ishiba as he begins Asia tour
