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.
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://aichuwei.com
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.
- Prime minister of Yemen's Houthi-run government killed in Israeli strike
- Israel military says controls 40 percent of Gaza City
- Venezuela deploys warships, drones as US destroyers draw near
- Pagasa sees cyclone-free week across PH
- Israel army urges Gaza City residents to leave
- DILG suspends classes, gov’t work in 17 areas
- US warship heading toward Caribbean Sea
- OVP ready to submit to lifestyle check if ordered, no word from Sara
- US senators to reinforce 'partnership' with Taiwan
- Sotto to Lead Senate again as majority votes to oust Escudero
