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.
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., This news data comes from:http://crv-wj-buky-waa.052298.com
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.
- NKorea's Kim tells Xi hopes to 'steadily develop' ties – KCNA
- PH Navy spots 20 Chinese ships near BRP Sierra Madre
- Marcos 'ready' to undergo lifestyle check- Palace
- Wildfire tears through California gold rush town
- Australia's mushroom murderer faces victims' family in court
- Marcos to mark ‘Thrilla In Manila’ 50th anniversary
- Wife of Australian man wanted in police killings urges him to surrender
- Sara’s claims that corruption probe could be done in one day 'absolutely preposterous' – Palace
- Modi, Ishiba agree to boost economic ties
- Classes suspended in 10 Metro Manila cities due to rains
