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.
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://giyf.jyxingfa.com
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.
- Malabon averts crisis with garbage deal
- Duterte’s defense team outlines ICC strategy
- Japan govt seeks to triple spending on drones
- Putin meets Kim, praises North Korean troops in Russia
- Pagasa sees cyclone-free week across PH
- Thailand ruling party moves to dissolve parliament
- One in four people lack access to safe drinking water – UN
- Budget shortfall narrows in July
- SpaceX cancels Starship megarocket launch in latest setback
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
