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.
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.”, This news data comes from:http://yamato-syokunin.com
”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.
- Social pension eyed for indigent seniors
- Wife and ally of ousted SKorean president indicted by special prosecutors
- More funding sought for sports commission
- Filipino weightlifter Vanessa Sarno banned for 2 years for anti-doping violation
- DMW, pharmaceutical firm sign agreement to boost access to medicines, hospital services for OFWs, families
- Wife of Australian man wanted in police killings urges him to surrender
- UN food agency chief says women and children are starving in Gaza and pressed Netanyahu on aid
- SEARCH WARRANT
- SC clarifies rules on land ownership
- Customs recovers 10 more Discaya luxury cars
