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://gangzhifhm.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.
- Macron says 26 countries pledge troops as a reassurance force for Ukraine after war ends
- Plea written in blood saves Chinese woman trapped in locked room
- LPA has big chance of intensifying into tropical cyclone to be named ‘Kiko’
- An AI simulation of a Mount Fuji eruption is being used to prepare Tokyo for the worst
- Discayas to file raps vs protesters, will attend Senate hearing — lawyer
- 25 countries suspend postal services to US over tariffs – UN
- DPWH Secretary Dizon orders perpetual ban of Wawao Builders, Syms Construction for ghost projects
- Shooting of Indonesian diplomat in Peru investigated as a contract killing
- DILG denies claims ex-PNP chief ousted over firearms purchase
- Escudero subpoenaes 10 DPWH contractors for Senate probe next week
