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://bbu-xyvm-ehtx-lmq.aichuwei.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.
- PH Navy spots 20 Chinese ships near BRP Sierra Madre
- Van Gogh Museum 'could close' without more help from Dutch govt
- Sara’s claims that corruption probe could be done in one day 'absolutely preposterous' – Palace
- First millennial saint: Vatican to canonize 'God's Influencer' Carlo Acutis
- Govt monitoring Chinese ‘sleeper agents’ in PH
- Duterte Youth brings Comelec cancelation battle to Supreme Court
- 'Perfect storm': UK fishermen reel from octopus invasion
- Sen. Go files bills to push health, social, and labor reforms
- Made in China? The remarkable tale of Venice's iconic winged lion
- Maryland resident is diagnosed with New World screwworm. What to know about the parasite
