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., This news data comes from:http://www.gangzhifhm.com
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.”
”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.
Go files housing development bill
- Some National Guard units in Washington are now carrying firearms in escalation of Trump deployment
- PTFOMS and CHR sign agreement to improve Filipino media workers' safety
- Sen. Go calls for round-the-clock DFA support for OFWs welfare
- China's Communist rulers push party role before World War II anniversary
- Floods kill over 30 in Indian-controlled Kashmir, displace 150,000 in east Pakistan
- China criticizes Canadian, Australian warships transiting Taiwan Strait
- Pangilinan urges Marcos Jr. to prioritize bill aiding farmers, fishermen
- BuCor chief calls for major reforms
- Xi and Putin round on West at regional summit in China
- 'New' position being offered to Torre — Palace
