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://erlvyiwan.com
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.”
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.
- PNP chief Torre relieved from post — Palace
- Israeli strikes in Yemen's capital kill six, Houthis say
- Pump prices go up
- 95 IMAGES OF MARY
- La Niña forecast from Sept-Dec, expect more tropical cyclones, above normal rainfall -- Pagasa
- Immigration: 1st lookout bulletin in effect on 35 individuals, including Discayas, linked to anomalous flood control projects
- Comelec probes 15 contractors for illegal campaign donations
- PH to see ‘blood moon’ Sept. 7-8
- Alex Eala makes history With comeback victory at US Open
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
