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.
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.”, This news data comes from:http://gangzhifhm.com
”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.
- SC orders comment on petitions vs polls
- Kilauea's eruption is back as the Hawaii volcano shoots lava for the 31st time since December
- Discaya says her family owns nine companies
- Hawaii's Kilauea volcano erupts with lava pouring out from multiple vents
- Modi: India, Japan to 'shape the Asian century'
- Rise in HFMD cases due to better reporting, not outbreak
- Napoles gets 55 years for another ‘pork’ case
- Wildfire tears through California gold rush town
- Typhoon death toll rises in Vietnam as downed trees hamper rescuers
- Oil firms to hike pump prices Tuesday
