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.
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation.
Go files housing development bill
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.”, This news data comes from:http://aichuwei.com
”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.
- EU massive fine against Google draws Trump’s ire
- Nartatez vows to be fair in making reassignments
- Rains over Metro Manila, parts of PH as LPA may develop into 'short-lived' tropical depression
- Modi reaffirms India's support for Ukraine peace settlement during call with Zelenskyy
- Trump moves to end US tariff exemption for small packages
- Opponents of Japan PM seek leadership contest
- Thai PM Paetongtarn Shinawatra sacked; new turmoil feared
- NKorea's Kim tells Xi hopes to 'steadily develop' ties – KCNA
- India to probe giant zoo run by son of Asia's richest person
- Trump stamps 'dictator chic' on Washington
