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.aichuwei.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.”
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.
- DILG denies allegations that PNP chief fired over firearms deal
- Thai court to rule on PM's fate after Hun Sen call leak
- Gasoline, diesel price hikes seen next week
- Thailand’s next PM reaffirms fresh polls promise
- Oil firms to hike pump prices Tuesday
- 13 massage therapists robbed, 2 cry rape
- Kris Aquino is alive, says friend amid reports of death
- SSS rolls out historic pension reform program
- International media protest over journalist deaths in Gaza
- Thai woman jailed for 43 years for lese majeste freed
