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.jyxingfa.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.
- Marcos expresses support for ‘beleaguered’ Cabinet members
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- House resolution filed to investigate 'funders' of anomalous projects
- House tackles P881B public works budget amid flood control anomalies
- Tourists dice with danger on Hanoi's train street
- Putin and Modi in China for summit hosted by Xi
- Trump rebrands Department of Defense as 'Department of War'
- No winner in lotto draws for Aug 28
- 100K Pakistanis flee amid flood threat
- Veteran Thai politician Anutin Charnvirakul wins vote in Parliament to become next prime minister
