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., This news data comes from:http://jw.jyxingfa.com
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.
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.”
”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.
- A summit and parade in China may signal a geopolitical shift
- Afghan quake death toll surges to over 2,200
- Eala ousts Day, enters Guadalajara Open final
- Modi and Putin affirm special relationship as India faces steep US tariffs over Russian oil imports
- US and European officials meet to discuss new sanctions on Russia
- Private groups back DHSUD chief's anti-corruption policy
- Discayas must return money before seeking immunity – Remulla
- Need a pee? Japan has QR code for that
- Philippine experts urge harm reduction strategy for tobacco control
- Sara says govt corruption probe a 'zarzuela,' plans to meet Robredo im Bicol festival
