SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
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.
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.”
”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://xs888999.com
- An AI simulation of a Mount Fuji eruption is being used to prepare Tokyo for the worst
- Earthquake kills 250, injures 500 in Afghanistan
- Trump rebrands Department of Defense as 'Department of War'
- IBP forms committee on good governance to probe corruption
- LGBTQ+ Catholics make Holy Year pilgrimage to Rome and celebrate a new sense of acceptance
- ‘Large shark’ kills man off Sydney beach
- Sara says govt corruption probe a 'zarzuela,' plans to meet Robredo im Bicol festival
- Alex Eala targets US Open Round of 32 in rematch against Spanish rival
- Motive probed for US shooting that killed two children, injured 17
- Thai court dismisses prime minister over compromising phone call with Cambodian leader
