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.
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.”
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., This news data comes from:http://jtfqtax.gyglfs.com
- Head of main US health agency abruptly dismissed
- Thailand's suspended prime minister testifies over phone call that could get her booted from job
- 'Blood Moon' to rise during total lunar eclipse Sunday night
- Comelec defers BARMM district reconstitution
- Japan PM decides to quit as opponents seek leadership election: reports
- Australia to tackle deepfake nudes, online stalking
- UN watchdog finds uranium traces at suspected Syrian former nuclear site
- 1 in 4 people lack access to safe drinking water — UN
- Super Sale: Pag-IBIG offers 40% off on foreclosed assets
- Group presses DA on delayed fertilizer subsidies
