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://www.052298.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.
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.
- PTFOMS and CHR sign agreement to improve Filipino media workers' safety
- China displays its weaponry in a tightly controlled military parade
- A suicide bombing near a political rally in southwestern Pakistan kills 13 and wounds 30
- AFP: It would take more than a tugboat to tow BRP Sierra Madre from Ayungin Shoal
- Kneecap to play Paris concert in defiance of objections
- Wawao Builders exec ‘not sure’ if company has flood control project in Bulacan
- PH doesn't recognize Taiwan as sovereign state, stands by 'One China Policy' -- Foreign Affairs chief
- Trump withdraws Kamala Harris's Secret Service protection
- Gasoline, diesel prices to increase by P1 next week
- France seized by fears of new political crisis
