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://atn.jyxingfa.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.
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.
- National Guard troops begin carrying weapons in US capital
- Thai tycoon takes office as PM after royal endorsement
- China is showing off its weaponry in a tightly controlled military parade
- China's Communist rulers push party role before World War II anniversary
- 'Ondoy'-level rains swamp Quezon City
- Co out of country for medical reasons
- EU massive fine against Google draws Trump threat
- Made in China? The remarkable tale of Venice's iconic winged lion
- France seized by fears of new political crisis
- Taiwan, China locked in historical word war
