Law 75

Original Language Title: Ley 75

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Law N ° 75 law of 5 January 1961 VICTOR PAZ ESTENSSORO constitutional the President because, the Honorable National Congress has sanctioned the following law: the National Congress, D E C R E T A: article 1. Incorporates the system of affordable housing to sellers of newspapers and lottery, creating is end the following resources: participation fixed by law on earnings, 3% of the National Lottery surcharge of 2% of the amount of the advertisements and paid publications recorded in newspapers and magazines in the country, personal contribution of the insured in the proportion of 5% on the basis of the 250,000.-monthly nominal salary.
Article 2. The surcharge laid down in subparagraph (b) shall be carried out by the publishers of newspapers and magazines) of the preceding article. The National Federation of newspapers and lottery vendors, assumes legal responsibility for its members and is responsible for collect the contributions indicated in subparagraph (c)).
Article 3. The resources created by this law shall be deposited monthly in the Central Bank of Bolivia in the account named Popular housing for sellers of newspapers and lottery.
Article 4. Investments will be made in accordance with the Decree of Supreme number 04385 on April 30, 1956, elevated to rank of law on date October 29, 1956, with the participation of one delegate from the National Federation of newspapers and lottery vendors.
Communicate to the Executive Branch for constitutional purposes.
Session of the H. Congress Hall.
Peace, December 22, 1960.
FDO. Ruben Julio C. E. market Ayala, Ciro Humboldt, Octavio Rivadeneira, Guillermo Muñoz de la Barra, Mario Roncal.
I therefore enacted it is and meets as a law of the Republic.
Government Palace in the city of La Paz, in the fifth day of the month of January of thousand nine hundred sixty-one years.
FDO. VICTOR PAZ ESTENSORO, A. Franco Guachalla, Minister of labour and Social Security.