The public housing built under government encouragement indicates the public housing built by a private investor on his own land under government encouragement in accordance with the provisions of this Act.

Having acquired the ownership of or the right to use a plot of land on which more than fifty public housing units can be collectively built, any housing builder in the form of corporation may be given encouragement in accordance with this Act provided that its project has been approved by the public housing agency.
The project in the foregoing paragraph shall include land price, construction price, sale price, and other relevant matters stipulated by the central competent authority of public housing.

The public housing builder in the forgoing article shall apply to the bank for construction financing with its building site of public housing as mortgage. The buyer of such public housing may apply to the bank designated by the government for loan.
The buyer in the forgoing article who has participated in the Saving Deposit for Purchasing of House may apply for a long-term loan which is repaid by installments.
The buyer pursuant to paragraph one of this Article who conforms to the qualifications of public housing buyer shall be provided with public housing loan pursuant to the provisions of Article 16.

Public housing built under government encouragement, its measures for application qualification, the processing time and procedures, construction area of the housing builder, and computing standard, application qualification, processing time and procedures of public housing loan limit of purchaser, and other matters shall be stipulated by the Ministry of the Interior.

The business income tax of the public housing built by the corporate housing builder and the surtax in total shall not exceed 25 percent of its income in this part of its business in the year.

In the public housing community built by a private investor, if there are public odd lots which must be incorporated with adjacent land for use, the management agency of public land may be contacted for sale through negotiation for the purpose of an overall planning and use.

The buyer of the public housing built by private investor under government encouragement shall be exempt from the deed tax of real estate transaction.

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If one of the following cases happens to the investment project of the approved investment permit; the competent authority of public housing shall abrogate its investment permit:
1. Failure to start construction within 9 months from the second day of the acquirement of investment permit.
2. The process is not based on the investment project of the approved investment permit.
3. Investors change the design which is not in accordance with the law.
4. Investors advertise and sell the housing with the titles of other communities.
5. The construction license is ineffective due to the application of postpone resulted from the failure to meet the deadline of construction noted in the investment project.
The investor’s investment permit abrogated according to the regulation in the foregoing paragraph, the competent authority of public housing shall not accept the application for encouragement for investment on public housing construction within five years.
In the abrogation under the paragraph one of this Article, if construction work has been underway when the investment plan is cancelled, the central and municipal competent authority of public housing may take over the construction. In case of any loss incurred before taking over, the investor shall make compensation.