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 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.
- Aid flotilla with Greta Thunberg set to sail for Gaza
- Rise in HFMD cases due to better reporting, not outbreak
- ICC postpones Duterte’s confirmation hearing after defense panel cites fitness concerns
- Five journalists among 20 killed in Israeli strikes on Gaza hospital
- President asks governor to expose irregularities in govt projects
- Undersea cables cut in the Red Sea, disrupting internet access in Asia and the Mideast
- Floods kill over 30 in Indian-controlled Kashmir, displace 150,000 in east Pakistan
- Peru’s ex-president Toledo gets a second sentence in the Odebrecht corruption scandal
- Red Cross head says mass evacuation of Gaza City 'impossible'
- Lacson seeks probe of 2 PH contractors' board members for conflict of interest
