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://yamato-syokunin.com
Go said the measure aims to meet the country’s growing social housing demands, particularly among underprivileged and homeless citizens.
Go files housing development bill
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.
- Pagasa monitors LPA off Cavite, may still become tropical depression
- 'Large shark' kills man off Sydney beach
- Berlin urges Israel to 'immediately' improve humanitarian conditions in Gaza
- Dizon to order DPWH officials to submit courtesy resignation
- BIR to audit contractors flagged for ghost flood projects for tax fraud — BIR
- Ever dream of having an entry in the Guinness World Records? Here's how to do it
- 3 Luzon dams release water
- Xi says China 'unstoppable' in parade opening speech
- Tensions soar in Indonesia as protests over police brutality and lawmakers' allowances continue
- Marcos embarks on three-day state visit to Cambodia
