SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://vax.gangzhifhm.com
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.
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.
- Chinese bridge collapse kills at least 12 construction workers
- 25 countries suspend postal services to US over tariffs – UN
- Tensions soar in Indonesia as protests over police brutality and lawmakers' allowances continue
- Filipino priest wins Ramon Magsaysay Award for activism against Duterte's drug war
- Drones take on Everest's garbage
- Vietnam evacuates thousands ahead of Typhoon Kajiki
- Typhoon death toll rises in Vietnam as downed trees hamper rescuers
- Comelec defers reconstitution of BARMM parliamentary districts
- Former PNP chief Torre III offered new government post
- SpaceX cancels Starship megarocket launch
