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://jv-rnoo-uct-ji.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.”
”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.
- Thai Court: PM Shinawatra violated ethics rules
- Sri Lanka's jailed ex-president Wickremesinghe granted bail
- US appeals court finds Trump's global tariffs illegal
- No winner in Grand, Megalotto draws for Aug 27
- Red Cross head says mass evacuation of Gaza City 'impossible'
- Sara slams govt corruption probe as a 'political zarzuela,' to meet with Robredo at Bicol festival
- Need a pee? Japan has QR code for that
- SpaceX scrubs latest Starship launch due to bad weather
- Customs recovers 10 more Discaya luxury cars
- US halts 80% complete, huge offshore wind farm
