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.
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation., This news data comes from:http://eb-ou-nqrc-ds.xs888999.com
Go files housing development bill
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.
- Major social media sites back online in Nepal after deadly protests
- Xi and Putin reaffirm 'old friend' ties in the face of US challenges
- Read to reduce sentence, Uzbekistan tells prisoners
- China's Communist rulers push party role before World War II anniversary
- Four children killed by parents in Dominican Republic — police
- Super Sale: Pag-IBIG offers 40% off on foreclosed assets
- PH Army showcases disaster response capabilities before Thai defense officials
- Repairs on Chinese ship in Bajo de Masinloc collision may take 2 months - PH Navy
- South Korean women sue US military in landmark prostitution lawsuit
- India's Modi seeks closer ties on Asia tour to offset US tariff fallout
