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.705-888.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.
- DPWH fires Bulacan engineers, blacklists contractors over anomalous projects
- PH doesn't recognize Taiwan as sovereign state, stands by 'One China Policy' -- Foreign Affairs chief
- National Guard troops begin carrying weapons in US capital
- Trump: Many Americans ‘like a dictator’
- Cyclone's trough, habagat will bring cloudy skies, rain showers over PH
- LTO summons driver who berated MMDA enforcer
- Lacson: Torre 'acted beyond his authority'
- House tackles P881B public works budget amid flood control anomalies
- Thailand set for vote on new PM after dissolution bid rejected
- Australia's 'mushroom murderer' handed life in prison with parole
