Financial Advances To Tucuman Provinces - Full Text Of The Norm

Original Language Title: ADELANTOS FINANCIEROS A PROVINCIAS TUCUMAN - Texto completo de la norma

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image inicio sitio infoleg MInisterio de Justicia y Derechos Humanos
MINISTERY OF ECONOMY Decree 126/91 Provide the Undersecretariat of Finance with financial advances to the Province of Tucumán.

Bs. As., 17/1/91

VISTO, the need to seek immediate solutions to the financial difficulties faced by TUCUMAN PROVINCIA, and


As a result, the PROVINCIA GOVERNMENT is unable to meet the commitments arising from the implementation of its expenditure budget.

In accordance with article 5 of Act No. 23,548, the NATIONAL EXECUTIVE POWER may not rotate any amount exceeding the amount resulting from the application of Article 3 (d) in addition to the distributions of funds governed by the Act, except those provided for in other special regimes.

That in the face of this situation and the requirement made by the Jurisdiction, it is imperative to take measures to allow the immediate action of the NATIONAL GOVERNMENT, making it appropriate to have temporary advances of funds to the Jurisdiction, on their participation in the production of national taxes.

That the critical fiscal situation in the NATIONAL GOVERNMENT advises to make advances through public debt securities.

That the above-mentioned advance may be granted, as it permits the authorization granted by article 15 of Act No. 20.659, which is regulated by Decree No. 1357 of 3 May 2974 and incorporated into Act No. 11.672 (Permanent Budget Complementary) under article 36 of Act No. 20.954.

That the NATIONAL EXECUTIVE POWER is empowered to issue public debt values through article 33 of Act No. 11.672 (modified by article 34 of Act No. 16.432 and Act No. 16.911) and article 13 of Act No. 23.763, in force in accordance with article 13 of the Public Accounting Act (Decree No. 23,354 of 31 December 1956).




Article 1 ). Facultase the SUBSECRETARIA DE HACIENDA to grant financial advances to the TUCUMAN PROVINCIA to cope with the critical financial situation it is going through, for up to DOLARES STADOUNIDENSES VEINTICINCO MILLONES (US$ 25,000.000). Art. 2o Los Advances will be made through the delivery of titles called "INVERSION AND GROWING BODIES". To this end, the BANCO CENTRAL OF THE ARGENTINA REPUBLIC, in its nature as a financial agent of the NATIONAL GOVERNMENT, will proceed to issue, in addition to the provisions of Decree No. 593 of March 29, 1990, with the same characteristics and conditions, "BONS OF INVERSION AND CHILDANCE" for up to the amount equivalent to DOLARES ESTADOUNIDENSES VEINTICINCOIN. Art. 3o La TUCUMAN PROVINCIA must be completed within a period not exceeding TREINTA (30) days from the publication of this Decree, the following:

(a) Report the immediate cause of the financial imbalances that led to the need for assistance, accompanying the relevant information (budgetary execution, status of the Provincial Treasury, number of occupied posts, staff payroll and any other illustrative information in this regard).

(b) Report the destination of the agreed funds.

(c) To present monthly projections of the Fund where the necessary forecasts are made in order to refund the advances received during the year.

Compliance with the above will be subject to the approval, regulation and monitoring of HACIENDA ' s SUBSECRETARIA.

Art. 4o . Facultase the SUBSECRETARIA DE HACIENDA to arrange for the cancellation of the agreed advances, by affecting the respective participation in the Regime of Law No. 23.548.


(a) The impact of the Province ' s participation in the Regime for the Distribution of Tax Resources between the Nation and the Provinces established by Law No. 23.548 or the regime that replaces it for up to the amounts necessary for the attention of all the payments that the NATIONAL GOVERNMENT should make under or on the basis of the "BONOS DE INVERSION AND CHILD" that it had received.

(b) Authorization of the NATIONAL GOVERNMENT to automatically retain the Province involved the emerging funds of Law No. 23.548 or the regime that replaces it, for up to the amounts necessary for the attention of the "BONS OF INVERSION and CHILD" that it had received.

Art. 5o . Communicate, publish, give to the National Directorate of the Official Register and archvese. . MENEM. . Antonio E. González.