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://dec-snf-eall-imil.705-888.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 next PM reaffirms fresh polls promise
- Heavy rains flood parts of Metro Manila anew
- NATIONAL ARTIST'S HOMETOWN
- Trump wants to meet Norea Korea's Kim again
- China criticizes Canadian, Australian warships transiting Taiwan Strait
- Thai cannabis-championing tycoon takes office as PM
- South Korea to ban mobile phones in school classrooms
- WBO champ looms as Pacquiao’s next opponent
- No peace without end to hostilities –Arab bloc
- Palace slams Discaya couple's denial in Film Heritage Building debacle
