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., This news data comes from:http://rcrt-uys-ud-ak.705-888.com
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.
- China's Xi holds talks with North Korea's Kim in Beijing
- GoTyme gives customers 20 free InstaPay transfers per month
- Trump moves to cut more foreign aid, risking shutdown
- Thailand acting PM moves to dissolve parliament — party
- China's Communist rulers push party role before World War II anniversary
- No winner in Ultra, Megalotto draws for Aug 29
- Konektadong Pinoy bill lapses into law
- Japan pledges continued support for Philippine development projects
- US agents arrest 475 in Hyundai-LG plant raid
- Epstein victims compiling list of sexual abusers
