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.
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, This news data comes from:http://aj-gu-jkko-mjiw.771bg.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.
- Palace rejects Sara's offer of 'free advice' on flood solutions, says to give it to 'Mayor Baste' instead
- Thailand's former Prime Minister Thaksin makes surprise departure ahead of a risky court ruling
- Heavy rain causes flooding, landslides and 8 deaths in Vietnam and Thailand
- Globe: Mobile data helps drive national progress
- Bersamin letter proves Torre reassignments ‘valid’
- NACC renews appeal: Adopt neglected kids
- Thai opposition holds kingmaking summit deciding new PM
- Nartatez rules out 'quota' arrests
- Anutin elected as Thailand's new prime minister
- Trump health misinformation swirls despite denial
