SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
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., This news data comes from:http://jvxshtlh.aichuwei.com
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.
- Mob burns Nigerian woman to death over Islam blasphemy claim — police
- Tax bureau hunts down contractors over questionable flood control deals
- Maduro calls for dialogue hours after Trump’s threat
- Denmark summons US envoy over 'attempts to influence' Greenland
- Gasoline, diesel price hikes seen next week
- Oil firms to hike pump prices Tuesday
- UK police arrest hundreds in latest Palestine Action demo
- 13 massage therapists robbed, 2 cry rape
- Batangas engineer suspended after alleged bribery attempt on congressman Leviste
- Ukraine drone attacks spark fires at Russia's Kursk nuclear plant, Novatek's Ust-Luga terminal.
