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.jyxingfa.com
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.
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.
- US appeals court blocks Trump's use of wartime law for deportations
- BIR to audit contractors flagged for ghost flood projects for tax fraud — BIR
- Guyana votes amid oil boom, Venezuela tensions
- Israel expects 1 million Gazans to flee new offensive
- 102-year-old becomes oldest person to summit Mount Fuji
- ‘Gomez ignorant of how media works’
- Customs recovers 10 more Discaya luxury cars
- Humanoid robots showcase skills at Ancient Olympia. But they're on a long road to catch up to AI
- Cyclone's trough, habagat will bring cloudy skies, rain showers over PH
- Two foreigners face trafficking complaint in Pasay City
