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://www.erlvyiwan.com
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.
Go files housing development bill
- South Korea's Lee faces pivotal test at first summit with Trump
- NACC renews appeal: Adopt neglected kids
- 'Mockery of science': US experts blast Trump climate report
- Some National Guard units in Washington are now carrying firearms in escalation of Trump deployment
- Four children killed by parents in Dominican Republic — police
- Modi and Putin affirm special relationship as India faces steep US tariffs over Russian oil imports
- Macron's decision to recognize Palestinian state angers Israel and the US
- Cyclone's trough, habagat will bring cloudy skies, rain showers over PH
- Trump moves to cut more foreign aid, risking shutdown
- Argentine police recover Nazi-looted painting spotted in property ad
