SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
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.
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., This news data comes from:http://mt-tq-efl-mtu.gyglfs.com
- French couple kept panther that roamed nearby rooftops
- Supreme Court urged to act on fake complaints
- Guyana votes amid oil boom, Venezuela tensions
- Tariffs, migration and cartels will top Rubio's talks in Mexico and Ecuador this week
- Mexican senators come to blows after heated debate
- Xi says China 'unstoppable' in parade opening speech
- Inoue says taunts 'missed the target' ahead of world title clash
- Tourists dice with danger on Hanoi's train street
- Made in China? The remarkable tale of Venice's iconic winged lion
- Globe partners with unconnected.org to provide remote schools with sustainable internet connectivity
