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://www.xs888999.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.
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.
- Putin tells Xi China-Russia ties are at 'unprecedented level'
- Opponents of Japan PM seek leadership contest
- DSWD program reduced hunger
- Xi meets Modi as China and India seek to rebuild ties
- Supreme Court urged to act on fake complaints
- Vatican puts Pope Francis' ecological preaching into practice with vocational farm center
- Israel tells residents to leave Gaza City ahead of offensive
- Drug war victims’ groups slam postponement of ICC hearing on Duterte
- 'God's Influencer' to become first millennial saint
- Wife of Australian man wanted in police killings urges him to surrender
