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.gangzhifhm.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.
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.”
”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.
- Russian drone, missile attack kills 14, injured 48 in Kyiv
- Tourists dice with danger on Hanoi's train street
- Palace rejects China's 'troublemaker' tag
- PH Navy spots 20 Chinese ships near BRP Sierra Madre
- Thailand’s next PM reaffirms fresh polls promise
- 2 policemen placed under preventive custody for allegedly molesting a female colleague in Marikina
- Open mic caught Xi, Putin discussing immortality
- Macron's decision to recognize Palestinian state angers Israel and the US
- Japan PM decides to quit as opponents seek leadership election
- Repairs on Chinese ship in Bajo de Masinloc collision may take 2 months - PH Navy
