SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
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., This news data comes from:http://www.xs888999.com
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.
- 25 countries suspend postal services to US over tariffs – UN
- Trump stamps 'dictator chic' on Washington
- Islamic State claims deadly attack on Pakistan rally
- GoTyme gives customers 20 free InstaPay transfers per month
- House probe tackles flood control corruption: Lawmakers disclose conflicts of interest
- Red Cross head says mass evacuation of Gaza City 'impossible'
- Police general suspended for ‘obstruction’ of evidence in case of missing sabungeros
- Customs preparing report on Discayas’ 28 luxury cars
- A summit and parade in China may signal a geopolitical shift
- Opponents of Japan PM seek leadership contest
