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://www.aichuwei.com
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.
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation.
Go files housing development bill
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.
- Comelec defers reconstitution of BARMM parliamentary districts
- Xi and Putin round on West at regional summit in China
- DILG denies allegations that PNP chief fired over firearms deal
- Recto: No exemption for US tech firms from digital tax
- No winner in lotto draws for Aug 28
- Tokyo logs record 10 days of 35 C or higher
- Pope demands end to 'collective punishment' and forced displacement of Palestinians in Gaza
- China's Xi holds talks with North Korea's Kim in Beijing
- Nartatez rules out 'quota' arrests
- Nartatez to reassign Torre if he won't retire, says they're 'okay'
