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.aichuwei.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.”
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.
- Philippine experts urge harm reduction strategy for tobacco control
- China is showing off its weaponry in a tightly controlled military parade
- Macron's decision to recognize Palestinian state angers Israel and the US
- Duterte party's acting chairman charged at Sandiganbayan over Malampaya project
- Rep. Tiangco reveals P17B flood control allocations linked to former appropriations chairman Rep. Zaldy Co
- Marcos secures business and government deals in Cambodia visit
- Chinese warships shadow Philippine, Australian, Canadian drills in Zambales
- China 'elephant in the room' at fraught Pacific Islands summit
- House tackles P881B public works budget amid flood control anomalies
- UN food agency chief says women and children are starving in Gaza and pressed Netanyahu on aid
