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://vl.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.
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.
- Seoul says over 300 South Koreans held in US battery plant site raid
- 'Mockery of science': US experts blast Trump climate report
- Comelec completes ballot printing for Bangsamoro elections despite redistricting dispute
- Marcos lauds Filipinos for role in nation building on National Heroes Day
- NKorea could produce ten to twenty nukes per year — SKorea leader
- Govt debt swells to record P17.58T
- PNP disputes China's crime advisory, says Philippines crime rate dropped
- House tackles P881B public works budget amid flood control anomalies
- Artikulo Onse' group calls for independent panel to probe flood control corruption
- NACC renews appeal: Adopt neglected kids
