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://rag-qa-txcx-es.771bg.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.
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.
- Japan PM Ishiba bounces back in polls after election debacle
- Napolcom confirms Lt. Gen. Nartatez as acting PNP chief
- Australia's 'mushroom murderer' handed life in prison with parole
- Scramble for survivors as Afghan earthquake death toll passes 1,400
- Oil firms to hike pump prices Tuesday
- DOJ indicts Abra Mining for fraudulent trading
- Govt debt swells to record P17.58T
- Fears of new political crisis grip France
- Thailand's suspended prime minister testifies over phone call that could get her booted from job
- Indonesia leader orders investigation into driver's protest death
