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://corr-vix-qnvy-umek.xs888999.com
Go files housing development bill
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.
- Need to pee? Japan has QR code for that
- Xi slams 'bullying' in speech to regional leaders at summit
- China to bolster non-Western alliances at summit, parade
- Philippines nears universal healthcare, 80% goal achieved -- Marcos
- ALPAS Consultancy bags five awards in Philippine Quill debut
- DPWH exec fired, 2 others face dismissal over flood control mess
- Israel expects 1 million Gazans to flee new offensive
- Passenger with fake Overseas Employment Certificate barred from leaving
- 2 policemen placed under preventive custody for allegedly molesting a female colleague in Marikina
- PH, Australia commend ‘impressive’ joint sea drills
