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://www.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.
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.
- China 'elephant in the room' at fraught Pacific Islands summit
- Venezuela deploys warships, drones as US destroyers draw near
- ICC clears applications of 15 drug war victims to join proceedings vs Duterte
- Appointments panel holds first session
- Israel expects 1 million Gazans to flee new offensive
- Japan accelerates missile deployment amid rising regional tensions
- Thailand’s next PM reaffirms fresh polls promise
- NATIONAL ARTIST'S HOMETOWN
- China is showing off its weaponry in a tightly controlled military parade
- President asks governor to expose irregularities in govt projects
