Law 29

Original Language Title: Ley 29

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No. 29

VICTOR PAZ ESTENSSORO

CONSTITUTIONAL PRESIDENT OF THE REPUBLIC

For the Honorable National Congress has sanctioned the following Law:

THE NATIONAL CONGRESS,

D E C R E T A:

Article 1. Of the total income that the State perceives for royalties on mining production, it is allocated

6% as departmental income in favor of the producing districts, percentage to be considered as income departmental ordinary.

Article 2. The Mining Bank of Bolivia, the Mining Corporation of Bolivia and the customs offices for the mining

median, will act as agents of retention of these funds, and must be credited these withholdings in the respective treasures departmental.

Article 3. The retention agents will determine the source of the ore to credit the sums

for each producer department.

Article 4. The Mining Corporation of Bolivia will make this determination for production seats; the Minero Bank

of Bolivia at the time of making acquisitions by their respective rescue operations and private exporters at the time of their exports will explain in the respective policies to the different producer departments where the mineral comes from.

Contact the Executive Branch for the constitutional purposes.

Session of the H. National Congress.

La Paz, 4 November 1960.

Mario Torres C, President of the National Senate, Ernesto Ayala M., President of the H. Chamber of Deputies, Fernando Ayala Requena, Senator Secretary, Ciro Humboldt, Senator Secretary, Mario Roncal, Deputy Secretary,

Fuad Mujães C., Deputy Secretary.

Therefore, I enact it so that it has and will comply as the Law of the Republic.

Government Palace in the city of La Paz, eight days in the month of November of a thousand nine hundred and sixty years.

FDO. VICTOR PAZ ESTENSSORO, A. Cuadros Sánchez, Minister of Finance and Statistics.