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://kgds-ped-qel-bcl.gyglfs.com
Go files housing development bill
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.
- Read to reduce sentence, Uzbekistan tells prisoners
- South Korean prosecutors indict Yoon's wife, former PM
- Xi and Putin reaffirm 'old friend' ties in the face of US challenges
- Epstein victims compiling list of sexual abusers
- Macron's decision to recognize Palestinian state angers Israel and the US
- Social media erupts: Politicians' children face backlash for flaunting wealth
- Washington makes military aid overtures to Sahel juntas
- LGBTQ+ Catholics make Holy Year pilgrimage to Rome and celebrate a new sense of acceptance
- Palace suspends govt work, classes in several areas due to bad weather
- ‘Large shark’ kills man off Sydney beach
