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., This news data comes from:http://www.aichuwei.com
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.”
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.
- Zelenskyy seeks talks with Trump and European leaders on slow progress of peace efforts with Russia
- Xi and Putin's hot mic moment: How long will science extend the human life span?
- No winner in Ultra, Megalotto draws for Aug 29
- Thai PM Paetongtarn Shinawatra sacked; new turmoil feared
- 2,000 North Korean troops killed in Russia deployment: Seoul spy agency
- Denmark summons US envoy over 'attempts to influence' Greenland
- Sara says govt corruption probe a 'zarzuela,' plans to meet Robredo im Bicol festival
- House starts flood control probe
- No winner in Ultra, Megalotto draws for Sept 5
- Chinese tourist city Sanya shuts down as typhoon intensifies
