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://otd.jyxingfa.com
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.
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
- Thailand's former Prime Minister Thaksin makes surprise departure ahead of a risky court ruling
- Wawao Builders exec ‘not sure’ if company has flood control project in Bulacan
- Japan PM decides to quit as opponents seek leadership election
- Washington makes military aid overtures to Sahel juntas
- ChatGPT to get parental controls after teen's death
- DPWH exec fired, 2 others face dismissal over flood control mess
- Customs recovers 10 more Discaya luxury cars
- Sotto to Lead Senate again as majority votes to oust Escudero
- 25 countries suspend postal services to US over tariffs – UN
- Hawaii's Kilauea volcano erupts with lava pouring out from multiple vents
