Key Benefits:
Sanctioned: November 28, 2001.
Enacted: December 27, 2001.
The Senate and Chamber of Deputies of the Argentine Nation assembled in Congress, etc. sanction with force of Law:
LAW OF LIMITATION OF AFFECTS
ARTICLE 1 Affectations on co-participable tax resources received by the provinces on a daily and automatic basis through the Bank of Argentina, which were awarded as a means of payment and guarantee of public securities, bonds, letters of treasury and/or loans with banking, financial and non-financial entities, may not exceed 7 per cent per year of the total amount of debt submitted by each province as at 6 November 2001. ARTICLE 2 The provincial public debt may be converted by Guaranteed Loans or National Bonuses Guaranteed with the consent of the debtor province and of the national executive branch and provided that they assume the debt resulting from the conversion and guarantee it with resources derived from the Federal Tax Association under Law 23.548 or the regime that replaces it in the future. ARTICLE 3 Within the limits set out in Article 1 the amounts corresponding to assignments of duties made by the provinces on colparticipated taxes shall not be liable to any retention by national government agencies, with Article 3 of Resolution No. 1075 issued by the former Ministry of Economy and Public Works and Services dated 23 September 1993. ARTICLE 4 Contact the Executive.IN THE SESSION OF THE ARGENTINE CONGRESS, IN GOOD AIRES, TO THE DIASS OF THE MONTH OF NOVEMBER OF THE YEAR DOS MIL UNO.
_
PASCUAL RAFAEL. . MARIO A. LOSADA. . Guillermo Aramburu. . Juan C. Oyarzún.