SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go files housing development bill
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.
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
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.
- Plea written in blood saves Chinese woman trapped in locked room
- France seized by fears of new political crisis
- US senators to reinforce 'partnership' with Taiwan
- PH Navy spots 20 Chinese ships near BRP Sierra Madre
- DFA: No US extradition request for Quiboloy
- Afghanistan earthquake kills more than 800
- Govt eyes charges vs Discayas over 'unfinished' PH Film Heritage Building
- Boy killed, mother injured in Pasig fire
- Taylor Swift, Travis Kelce engaged
- China to bolster non-Western alliances at summit, parade
