SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
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., This news data comes from:http://byrgwu.771bg.com
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.
- South Korean prosecutors indict Yoon's wife, former PM
- Wildfires producing 'witches' brew' of air pollution – UN
- DOJ indicts Abra Mining for fraudulent trading
- Plea written in blood saves Chinese woman trapped in locked room
- Wildfire tears through California gold rush town
- Modi reaffirms India's support for Ukraine peace settlement during call with Zelenskyy
- Cyclone's trough, habagat will bring cloudy skies, rain showers over PH
- Palestinian Embassy echoes PH appeal for ceasefire in Gaza
- China is showing off its weaponry in a tightly controlled military parade
- Ukraine drone attacks spark fires at Russia's Kursk nuclear plant, Novatek's Ust-Luga terminal.
