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.yamato-syokunin.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.
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.
- San Juan commemorates first revolution under Spanish rule in 129th Araw ng Pinaglabanan
- Cyclone's trough, habagat will bring cloudy skies, rain showers over PH
- Xi slams 'bullying' in speech to regional leaders at summit
- Seoul says over 300 South Koreans held in US battery plant site raid
- South Korean President vows support to Koreans arrested in US immigration raid
- Quezon City hails directive for national projects to get local permits
- Trump tells Europe to put economic pressure on China over Ukraine
- Nartatez rules out 'quota' arrests
- Mexican drug lord faces life in prison after pleading guilty in US court
- Malabon shifts garbage disposal to Rizal landfill after Navotas closure
