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://krsymnud.xs888999.com
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.”
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.
- Sri Lanka ex-president Wickremesinghe hospitalized after arrest
- PNP disputes China's crime advisory, says Philippines crime rate dropped
- Repairs on Chinese ship in Bajo de Masinloc collision may take 2 months - PH Navy
- No winner in lotto draws for Aug 28
- Tourists dice with danger on Hanoi's train street
- Pope declares 'God's influencer' first millennial saint
- Artikulo Onse' group calls for independent panel to probe flood control corruption
- Marcos leads oath taking of new officers of League of Provinces of the Philippines
- US warship heading toward Caribbean Sea
- 15 companies vie for 'Sustainability Champions' award
