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.
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.”, This news data comes from:http://vruiqdj.jyxingfa.com
”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
- Peace efforts in limbo as Kyiv mourns 23 dead
- Co out of country for medical reasons
- 9 dead in Ecuador after bus plunges into ravine
- N. Korea test-fires two 'new' air defense missiles
- North Korea test-fires two 'new' air defense missiles
- 'I have no resentment,' says Torre after dismissal as PNP chief
- ALPAS Consultancy bags five awards in Philippine Quill debut
- North Korea's Kim in China ahead of massive military parade
- PNP disputes China's crime advisory, says Philippines crime rate dropped
- Sara’s claims that corruption probe could be done in one day 'absolutely preposterous' – Palace
