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://gangzhifhm.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.”
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.
- DILG suspends classes, gov’t work in 17 areas
- Australia expels Iran ambassador over antisemitic attacks
- Monsoon rains flood Mandaluyong, Parañaque — MMDA
- Thai tycoon takes office as PM after royal endorsement
- WBO champ looms as Pacquiao’s next opponent
- Protesters storm Discaya office in Pasig to demand accountability for 'ghost flood control projects'
- Comelec en banc upholds cancelation of Duterte Youth Party-List registration
- Shooting of Indonesian diplomat in Peru investigated as a contract killing
- Malaysia warns TikTok vs cyberbullying, deepfakes
- 1.2K pass Electrical Engineers exam
