Law 29

Original Language Title: Ley 29

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Law N ° 29 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. Of total income that perceives the State for royalties on mining production, 6% as revenue of a departmental nature in favor of producing districts, percentage to be considered as departmental revenue is assigned.
Article 2. The Banco Minero of Bolivia, the Corporación Minera de Bolivia and customs for the medium mining offices, will act as agents of retention of these funds, must register these deductions in the respective departmental treasures.
Article 3. Retention agents determined the origin of the ore in order to prove the amounts for each producing Department.
Article 4. The Corporación Minera de Bolivia, will make this determination by records of production; the mining Bank of Bolivia at the time of making purchases by their respective rescue operations and private when exporters make their exports will explain in the respective policies to departments where comes from mineral-producing.
Communicate to the Executive Branch for constitutional purposes.
Session of the H. Congress Hall.
The peace, 4 of November of 1960.
Mario Torres C, President of the National Senate H., Ernesto Ayala M., President of the H. Chamber of Deputies, Fernando Ayala Requena, Senator Secretary, Ciro Humboldt, Senator Secretary, Mario Roncal, Deputy Secretary, Fuad Mujaes C., Deputy Secretary.
I therefore enacted it is and meets as a law of the Republic.
Government Palace in the city of La Paz, to the eight days of the month of November in thousand nine hundred and sixty years.
FDO. VICTOR PAZ ESTENSSORO, a. Sánchez pictures, Minister of finance and statistics.