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://ghlq-odq-un-vkco.aichuwei.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.
- Marcos opens Hyundai's shipyard in PH
- NATO members to reach 2% defense spending goal this year
- Tensions soar in Indonesia as protests over police brutality and lawmakers' allowances continue
- Putin meets Kim, praises North Korean troops in Russia
- PNP chief leads fun run
- Israeli protesters call for hostage deal ahead of cabinet meeting
- India to probe giant zoo run by son of Asia's richest person
- Thai cannabis-championing tycoon takes office as PM
- Marcos, first lady visit Cambodia to boost ties
- Customs finds only 2 luxury cars at contractor's compound in Pasig
