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://fq-gikr-sy-xko.705-888.com
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.
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.
- One in four people lack access to safe drinking water – UN
- PH doesn't recognize Taiwan as sovereign state, stands by 'One China Policy' -- Foreign Affairs chief
- House probe tackles flood control corruption: Lawmakers disclose conflicts of interest
- Trump says he wants to meet North Korea's Kim again
- US church shooter 'obsessed with idea of killing children'
- Palace rejects China's 'troublemaker' tag
- Thai opposition holds kingmaking summit deciding new PM
- Harold Cabreros takes post as new OCD chief
- Tariffs, migration and cartels will top Rubio's talks in Mexico and Ecuador this week
- Gaza at 'breaking point,' says UN food agency chief after visit
