Reconstruction Excess Profit Recovery System Relaxation Bill Passes Legislation Committee... Scheduled for Plenary Session on the 8th

The "Amendment to the Act on the Recovery of Excessive Profits from Reconstruction" which exempts reconstruction excess profit charges up to 80 million won passed the National Assembly's Legislation and Judiciary Committee plenary session on the 7th.

[Image source=Yonhap News]

The amendment's core is raising the average profit amount per member exempt from reconstruction charges from the existing 30 million won to 80 million won, and adjusting the chargeable range from 20 million won to 50 million won.

The starting point for imposing reconstruction charges was changed from the approval date of the association establishment promotion committee to the date of association establishment approval.

A new provision was also introduced to reduce charges by 70% for long-term homeowners who have owned one house for over 20 years, and by 50% for those who have owned for over 10 years.

A special law for the redevelopment of aging planned cities, including first-generation new towns such as Bundang and Ilsan, also passed the Legislation and Judiciary Committee.

Along with this, the amendment to the Gadeokdo New Airport Special Act, which establishes the basis for issuing comprehensive management service orders for the Gadeokdo New Airport construction project, was also approved.

The bills that passed the Legislation and Judiciary Committee on this day are expected to be submitted to the plenary session on the 8th.

This content was produced with the assistance of AI translation services.