The Budget Committee of the Verkhovna Rada supported and recommended for adoption in the second reading draft law No. 13256, which amends the Budget Code to implement the Agreement on the establishment of the American-Ukrainian Investment Reconstruction Fund.
This is reported by Business • Media
Main Provisions of the Draft Law
The final version of the document stipulates that 50% of the revenues from the general fund of the state budget, as well as the general and special funds of local budgets, derived from payments related to the use of subsoil for the extraction of minerals designated as fund assets, will be directed to a special fund of the state budget.
- 50% of the rent payment for the use of subsoil for the extraction of minerals of national significance;
- 50% of the fee for issuing special permits for the use of subsoil and funds from the sale of such permits;
- 50% of the funds from the sale of the portion of produced goods that remains state property according to production sharing agreements, as well as funds in the form of a monetary equivalent of this portion of the goods.
Use of Funds and Next Steps
The collected revenues of the special fund will be used to form a contribution to the American-Ukrainian Investment Reconstruction Fund. In addition, it is proposed that the income generated from the fund’s activities, as well as all funds received from the Russian Federation or its representatives in the form of reparations for armed aggression against Ukraine, be fully directed to the general fund of the state budget.
The final version of the draft law proposes to transfer 50% of the revenues from the general fund of the state budget and the general and special funds of local budgets from payments related to the use of subsoil for the extraction of minerals designated as assets of the American-Ukrainian Investment Fund to the special fund of the state budget.
The consideration of the draft law in the second reading is scheduled for early June.