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://jyxingfa.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.
- Catholic, Greek Orthodox clergy to stay in Gaza City to help weakest
- House holds budget review with 21 civil society organizations
- Thailand’s next PM reaffirms fresh polls promise
- Modi and Putin affirm special relationship as India faces steep US tariffs over Russian oil imports
- Peace efforts in limbo as Kyiv mourns 23 dead
- Putin tells Xi China-Russia ties are at 'unprecedented level'
- India will not 'bow down,' trade minister says after US tariffs
- A suicide bombing near a political rally in southwestern Pakistan kills 13 and wounds 30
- Suspect in 2012 killing of Dutch aid worker freed
- Leviste files charges against DPWH engineer who tried to bribe him
