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.
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., This news data comes from:http://pb-ye-awag-su.xs888999.com
- Van Gogh Museum 'could close' without more help from Dutch govt
- PH Construction Board asked to address 'accreditation for sale' scandal
- Macron's decision to recognize Palestinian state angers Israel and the US
- Tokyo protests to Beijing over gas field in East China Sea
- Venezuela builds up border security over US warships
- Malabon City honors partners
- Unnamed skeletons? US museum at center of ethical debate
- Thailand’s next PM reaffirms fresh polls promise
- Putin lands in Tianjin for summit hosted by China
- Israeli PM tells Gaza City residents to 'leave now'
