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://kahgavqb.jyxingfa.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.”
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.
- North Korea test-fires two 'new' air defense missiles
- House committee subpoenas Sarah Discaya, 4 other contractors over flood control project anomalies
- LPA affects Metro Manila, Mindanao, Visayas
- Wife and ally of ousted SKorean president indicted by special prosecutors
- Go seeks more support for Filipino athletes
- Thai cannabis-championing tycoon takes office as PM
- Taiwan: China illegally deploying oil rigs in its waters
- Thailand ruling party moves to dissolve parliament
- India to cut taxes on hundreds of consumer goods to boost local demand following steep US tariffs
- Boy killed, mother injured in Pasig fire
