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., This news data comes from:http://705-888.com
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.
- Trump moves to limit US stays of students, journalists
- Prime minister of Yemen's Houthi-run government killed in Israeli strike
- Construction managers, developers back Housing chief's anti-corruption advocacy
- Trump hails Department of War rebrand as 'message of victory'
- 1 of 2 suspects in Pasay robbery, rape arrested
- ERC amends net-metering rules to expand renewable energy options
- Duterte Youth brings Comelec cancelation battle to Supreme Court
- An AI simulation of a Mount Fuji eruption is being used to prepare Tokyo for the worst
- Thai court to rule on PM's fate after Hun Sen call leak
- Marcos to create independent commission to investigate flood control anomalies
