SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go said the measure aims to meet the country’s growing social housing demands, particularly among underprivileged and homeless citizens., This news data comes from:http://bbda.erlvyiwan.com
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.
- Indonesia leader orders investigation into driver's protest death
- Iran says open to US nuclear talks, rejects missile curbs
- Budget shortfall narrows in July
- UK police arrest hundreds in latest Palestine Action demo
- ‘40% of Filipinos obese’
- China 'unstoppable', says Xi with Kim, Putin at his side
- No peace without end to hostilities –Arab bloc
- Strikes across Gaza Strip kill at least 31 as international scholars accuse Israel of genocide
- Vatican puts Pope Francis' ecological preaching into practice with vocational farm center
- The rot goes deep: Marcos decries decades-old corruption
