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://gangzhifhm.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.
- CBCP president urges Israel to stop military operations in Gaza
- Israeli forces seize nearly 0,000 in West Bank raid
- Retired NBI agents urge Marcos to appoint career official to replace Santiago
- China 'unstoppable', says Xi with Kim, Putin at his side
- Indonesia turns down ear-splitting 'haram' street parties
- 'Pink and green' protests call for a reset in Indonesia
- Corruption crackdown: VP Sara Duterte, lawmakers call for deeper probe into government
- Makati earns high rating in anti-trafficking and violence assessment
- EU massive fine against Google draws Trump threat
- May 12 poll results accurate, credible - OCTA Research
