Proposal to double the bank tax and fund public housing

Automatic summary, not yet reviewed

1. The bill would double the temporary bank levy in Law 38/2022, raising it from 4.8% to 10% on interest and commission margins, for the years 2023, 2024 and 2025.
2. It would also create a 75% tax on interest and commission margins that exceed by more than 5% those of the first half of 2022, applying in 2024 and 2025.
3. The money raised would go to a fund managed by the Ministry of Transport to lend to local governments for building public social rental housing in tight housing markets, for vulnerable people on the waiting list for official protected housing.
4. Banks could not pass the cost of the tax on to their customers: doing so would be a very serious offense fined at 150% of the amount passed on.

Words worth knowing

Gravamen temporal

A mandatory payment that applies only for a limited time, here to large banks.

Prestación patrimonial de carácter público no tributario

A mandatory payment to the State that, legally, does not technically count as a tax.

Vivienda de protección oficial

Public housing for rent or purchase at protected prices, for people with fewer resources.

Zonas tensionadas

Areas where rents have risen sharply and access to housing is difficult.

It summarizes the text as it was introduced. It is written by artificial intelligence and may contain mistakes: the official text is what counts. Read the official text · How we make summaries