SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go files housing development bill
Go said the measure aims to meet the country’s growing social housing demands, particularly among underprivileged and homeless citizens.
Go files housing development bill, This news data comes from:http://www.redcanaco.com
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.”
”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.
- Tax bureau hunts down contractors over questionable flood control deals
- Wife and ally of ousted SKorean president indicted by special prosecutors
- Israel ups pressure on Gaza City as Trump talks post-war plan
- House probe tackles flood control corruption: Lawmakers disclose conflicts of interest
- 1 in 4 people lack access to safe drinking water — UN
- Pope Leo meets LGBTQ+ Catholic advocate and vows continuity with Pope Francis' legacy of welcome
- Isko files raps over demolition of sports complex
- Israel military says controls 40 percent of Gaza City
- DBP launches P50M program for education
- Rise in HFMD cases due to better reporting, not outbreak
