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 said the measure aims to meet the country’s growing social housing demands, particularly among underprivileged and homeless citizens.
Go files housing development bill
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.
- Chinese sleeper agents' and PLA operatives a threat, Lacson warns
- Pakistanis no reprieve from floods yet
- Sotto allows detained Public Works engineer to attend House probe on flood control projects
- 'Perfect storm': UK fishermen reel from octopus invasion
- CFO moves office from QC to Pasay
- LGBTQ+ Catholics make Holy Year pilgrimage to Rome and celebrate a new sense of acceptance
- 25 countries suspend postal services to US over tariffs – UN
- 13 massage therapists robbed, 2 cry rape
- Need a pee? Japan has QR code for that
- Sara Duterte calls DPWH flood control Inquiry a 'Zarzuela'
