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.
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, This news data comes from:http://obbdofw.aichuwei.com
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.
- Seoul says over 300 South Koreans held in US battery plant site raid
- Vietnam evacuates thousands ahead of Typhoon Kajiki
- Pope Leo XIV to Israeli president: 2-state solution needed to end Gaza war
- Russian drone, missile attack kills 14, injured 48 in Kyiv
- Israeli strikes in Yemen's capital kill six, Houthis say
- Zelenskyy meets European leaders on Ukraine security guarantees
- President Marcos to attend 80th UN General Assembly in New York
- UN watchdog finds uranium traces at suspected Syrian former nuclear site
- NATIONAL ARTIST'S HOMETOWN
- Iran says open to US nuclear talks, rejects missile curbs
