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.
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation., This news data comes from:http://awwrnxh.gyglfs.com
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
- Laws signed on holidays, court branches
- Russian drone, missile attack kills 14, injured 48 in Kyiv
- Trump to blacklist countries for imprisoning Americans
- Court rules on subdivision open spaces, road lots
- Thailand set for vote on new PM after dissolution bid rejected
- Thai cannabis-championing tycoon takes office as PM
- 102-year-old becomes oldest person to summit Mount Fuji
- IBP to form good governance panel
- PH Defense chief slammed for 'bad mouthing' China
- Israeli strikes in Yemen's capital kill six, Houthis say
