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://aichuwei.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.
Go files housing development bill
- 17 House lawmakers press Marcos administration to raise WPS issue to UN
- US appeals court blocks Trump's use of wartime law for deportations
- ChatGPT to get parental controls after teen's death
- Israel launches new spy satellite in 'message' to enemies
- 'Strangest' dinosaur covered in spiked armory – scientists
- Go files housing development bill
- India's Modi seeks closer ties on Asia tour to offset US tariff fallout
- 2 LPAs monitored inside PAR, bringing rain to Luzon
- PNP disputes China's crime advisory, says Philippines crime rate dropped
- BCDA honored for UN sustainable development goals at Manila Times Awards
