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://ruaatc.yamato-syokunin.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.
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.
Go files housing development bill
- Gomez-Estoesta named court administrator by Supreme Court
- Trump says he wants to meet North Korea's Kim again
- Aftershocks rumble quake-hit Afghanistan as death toll tops 1,400
- House justice panel to probe US' extradition request for Quiboloy
- US approves .5M in assistance to Nigeria to help address hunger
- US senators to reinforce 'partnership' with Taiwan
- Trump escalates crackdown threats with Chicago 'war' warning
- Marcos lauds Alex Eala’s win in Guadalajara
- Xi slams 'bullying' in speech to regional leaders at summit
- Group presses DA on delayed fertilizer subsidies
