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://oobvjiji.erlvyiwan.com
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.”
”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
- Modi, Ishiba agree to boost economic ties
- Diokno urges Philippines to rejoin ICC to counter China's aggression
- North Korean leader inspects new missile factory ahead of visit to China
- Konektadong Pinoy Bill has lapsed into law — Palace
- Over 800 killed as quake rocks Afghanistan
- NBI slaps Alice Guo, 35 Others with new graft, misconduct cases
- Alex Eala makes history With comeback victory at US Open
- 13 massage therapists robbed, 2 cry rape
- 2,000 North Korean troops killed in Russia deployment: Seoul spy agency
- Sara Discaya admits owning 28 luxury cars
