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.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.
Go files housing development bill
- The rot goes deep: Marcos decries decades-old corruption
- Head of main US health agency abruptly dismissed
- Comelec upholds cancelation of Duterte Youth registration
- 4 policemen linked to sabungero case slapped with more administrative cases
- Customs preparing report on Discayas’ 28 luxury cars
- Trump moves to limit US stays of students, journalists
- Customs recovers 10 more Discaya luxury cars
- Guyana votes amid oil boom, Venezuela tensions
- Drug war whistleblower Royina Garma returns to PH after US detention
- PH Army showcases disaster response capabilities before Thai defense officials
