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.
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.”
Go files housing development bill
”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., This news data comes from:http://www.xs888999.com
- Veteran Thai politician Anutin Charnvirakul wins vote in Parliament to become next prime minister
- Boy killed, mother injured in Pasig fire
- North Korea's Kim Jong Un travels to Beijing to watch military parade alongside Putin, Xi Jinping
- Preliminary report on Lisbon funicular accident expected
- Australia's mushroom murderer faces victims' family in court
- Mexican drug lord faces life in prison after pleading guilty in US court
- PH to see ‘blood moon’ Sept. 7-8
- Need a pee? Japan has QR code for that
- Tokyo logs record 10 days of 35 C or higher
- Putin tells Xi China-Russia ties are at 'unprecedented level'
