SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
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., This news data comes from:http://xs888999.com
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation.
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.”
”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.
- Dial 911: New nationwide emergency hotline to go live on Sept. 11
- North Korea's Kim Jong Un travels to Beijing to watch military parade alongside Putin, Xi Jinping
- Earthquake in eastern Afghanistan kills at least 610 people and injures 1,300
- Suspect in 2012 killing of Dutch aid worker freed
- Berlin urges Israel to 'immediately' improve humanitarian conditions in Gaza
- House resumes budget briefings
- Xi and Putin's hot mic moment: How long will science extend the human life span?
- Escudero subpoenas 5 contractors, 3 DPWH executives to Senate probe
- Putin facing mounting pressure from the West
- Wawao Builders exec ‘not sure’ if company has flood control project in Bulacan
