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.
Go files housing development bill
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://wrvp-omqo-ex-rm.771bg.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.
- Thailand's Parliament to vote Friday for a new prime minister
- Nartatez vows fair assignments, better resource management as new PNP chief
- Marikina City chief of police relieved
- 'God's Influencer' to become first millennial saint
- DILG suspends classes, gov’t work in 17 areas
- Tokyo logs record 10 days of 35 C or higher
- Madagascar welcomes home skulls of Indigenous warriors taken by French colonial troops 128 years ago
- Made in China? The remarkable tale of Venice's iconic winged lion
- Modi: India, Japan to 'shape the Asian century'
- Washington makes military aid overtures to Sahel juntas
