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://771bg.com
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.
- Sotto files bill to amend party-list system
- Thai court to rule on PM's fate after Hun Sen call leak
- Oil firms to raise pump prices Tuesday
- SEARCH WARRANT
- Thailand’s next PM reaffirms fresh polls promise
- Israel flattens high-rise as it tells Gaza City residents to flee
- Harold Cabreros takes post as new OCD chief
- A summit and parade in China may signal a geopolitical shift
- Duterte lawyers take aim at ICC prosecutor
- Ukraine drone attacks spark fires at Russia's Kursk nuclear plant, Novatek's Ust-Luga terminal.
