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.”
Go files housing development bill
”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., This news data comes from:http://xdn-ony-ux-rwsc.gyglfs.com
- Plea written in blood saves Chinese woman trapped in locked room
- UK's mass facial-recognition roll-out alarms rights groups
- Tokyo logs record 10 days of 35 C or higher
- Read to reduce sentence, Uzbekistan tells prisoners
- China's Xi holds talks with North Korea's Kim in Beijing
- Israeli protesters demand hostage deal as cabinet meets
- Israel ups pressure on Gaza City as Trump talks post-war plan
- LPA over West PH Sea develops into tropical depression, now called ‘Jacinto’ -- Pagasa
- Malabon averts crisis with garbage deal
- Sen. Go files bills to push health, social, and labor reforms
