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.
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.”, This news data comes from:http://sjblpl.yamato-syokunin.com
Go files housing development bill
”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.
- Harold Cabreros takes post as new OCD chief
- More funding sought for sports commission
- SKorea’s Lee in Tokyo to show friendship
- Housing secretary declares 'zero-tolerance' policy on corruption
- BuCor chief calls for major reforms
- Trump: Many Americans ‘like a dictator’
- Seoul says fired warning shots after North Korean troops crossed border
- Metro Manila disaster agencies expand response areas in preparation for 'Big One'
- 95 IMAGES OF MARY
- Tariffs, migration and cartels will top Rubio's talks in Mexico and Ecuador this week
