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., This news data comes from:http://xs888999.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.
- Israel army urges Gaza City residents to leave
- India warns Pakistan of more cross-border flooding due to heavy monsoon rains
- Classes suspended in 10 Metro Manila cities due to rains
- DPWH chief rejects calls to resign as he vows to probe corruption in flood control projects
- PNP chief leads fun run
- 2,000 North Korean troops killed in Russia deployment: Seoul spy agency
- North Korea's Kim Jong Un travels to Beijing to watch military parade alongside Putin, Xi Jinping
- La Niña may return but temperatures will remain high, UN says
- Protesters storm Discaya compound, Sotto calls for calm
- 'Strangest' dinosaur covered in spiked armory – scientists
