Decision of the Standing Committee of the Luoyang Municipal People's Congress on Amending the "Luoyang Urban Real Estate Market Management Regulations"

1. Paragraph 2 of Article 12 is revised to read: “If the land use rights are obtained through allocation, when the real estate transfer is submitted for approval, the city or county (city) people’s government may decide not to transfer the land use rights. If the formalities are not followed, the transferor shall turn over the land income from the transfer of real estate to the same level of finance in accordance with relevant national and provincial regulations." 2. Article 32 is revised to: "Convert non-commercial land to commercial land or convert it into commercial land. If a house built on state-owned land with the right to use it is rented out, land income fees shall be paid. The methods for collecting land income fees shall be stipulated by the Municipal People's Government in accordance with the law. "

This decision shall be effective from December 1, 2000. Effective from today.

The "Luoyang City Urban Real Estate Market Management Regulations" will be re-announced after being revised accordingly in accordance with this decision.