SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
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., This news data comes from:http://bmevt.705-888.com
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.
Go files housing development bill
- Trump says he wants to meet North Korea's Kim again
- Judge reverses Trump administration's cuts of billions of dollars to Harvard University
- Marcos to attend UN meet in New York in Sept- Palace
- Pope declares 'God's influencer' first millennial saint
- BIR to audit contractors flagged for ghost flood projects for tax fraud — BIR
- Pagasa monitors LPA off Cavite, may still become tropical depression
- US and European officials meet to discuss new sanctions on Russia
- No winner in lotto draws for Aug 30
- US agents arrest 475 in Hyundai-LG plant raid
- Pope Leo: We must listen first before speaking
