Key Benefits:
September 30, 1948 law
TAXES. †" Crate at the crude oil extracted from oil and gas in the Department of Santa Cruz for public works in the same
ENRIQUE HERTZOG G CONSTITUTIONAL PRESIDENT OF THE REPAsBLICA
BY HOW much: The National Congress has sanctioned the following Law:
THE NATIONAL CONGRESS
DECCRETA:
ArtA-ass 1A ° †" As complementary resources to finance the works of drinking water, light and strength power, paving and sewerage of the city of Santa Cruz and the public works of The provinces of the Department, are created as cumulative funds, the following
Ten cents per liter of crude oil that is extracted by pipelines or other means of the fields located in the Department;
Ten cents per liter of gasoline, kerosene, diesel and fuel oil that comes out of the Department.
ArtA-ass 2A ° †" The distribution of resources will be made in the following way:
Fourteen percent destined for the public works of the capital;
Fourteen percent to the public works of the province of Cordillera;
Five percent for each of the ten remaining provinces, namely: Andréns Ibà ¡ à ± ez, Warnes, Santistátán, úbláriz, Ichilo, Velasco, A ' uflo de ChA ¡ vez, Chiquitos, Vallegrande and Florida;
Six per cent to finance the acquisition of drilling equipment from artesian wells for the increase of the gain-a in all districts of the Department, giving preference to those in which the water factor is determining the parking of this industry;
Six percent to build or repair the current path from Camiri to Santa Cruz;
Six percent for the construction or repair of the road from Santa Cruz to Puerto Grether, which will unite the capital with the provinces of the North;
Four percent for the construction of the road road Vallegrande-Lagunillas.
ArtA-culo 3A ° †" Yacimientos Petroleos Fiscales Bolivianos, as a tax agent created by this law, will deposit their performance monthly in the account" Public Works of the Department of Santa Cruz " in the Central bank of that city, under its responsibility.
ArtA-arse 4A ° †" The Executive Branch is authorized, to contract with the guarantee-to the resources created by this law, in the institutions of credit of the country or abroad, one or more of them up to the sum of TWO HUNDRED MILLION BOLIVIANS (Bs. 200,000.000†") or its equivalent in foreign currency.
ArtA-ass 5A ° †" The returns from the public works to be executed according to this law will also serve as a guarantee for the service of the undertaking.
ArtA-ass 6A ° †" The interest to be placed by that undertaking may not exceed six percent year-on-year with a five percent amortisation also annually. In the event that the cumulative resources allow it to be written off in a larger percentage.
ArtA-ass 7A ° †" In case of placement of the undertaking or the undertaking that determines the article-article 4, the Comité of the Public Works distribute the resources in the ratio determined by the second article.
ArtA-ass 8A ° †" The resources created by this law cannot be reversed or less intended for purposes other than those indicated.
ArtA-ass 9A ° †" The taxes created by the article-ass will first start to be collected from the promulgation of this law, without it being to do so the lack of the regulation of the person
ArtA-ass 10A ° †" The incites a) and b) of the article 4 of the Law of 24 November 1947 are repealed.
Article 11A ° †" Once the refiner-a de Sucre produces gasoline, the resources created under point 2o of the first article shall be used to increase the funds indicated in the second article in points 6 and 7, in The ratio of sixty percent and forty per cA-enlo, respectively.
ArtA-ass 12A ° †" It is amplified-to the composition of the" Comité de Works PAºblicas de Santa Cruz ", created by Law of 24 November 1945 and is incorporated a delegate from each of the provinces of the Department, with the right to voice and vote, which They shall be appointed in assembly and secret vote of the authorities of the capital of the respective province.
Article 13A ° †" The Executive Branch shall regulate this law.
The meeting room of the H. National Congress.
La Paz, 28 September 1948.
M. Urriolagoitia .†" A. Salinas LAólípez.â€" O. árišářérez, S. S. †"C LAñóspez Arce, S. S. â€" A. Quezada, D. S. †" D. Imaà ± a Monterrey, D. S.
Therefore, I enact it so that it has and complies with the Law of the Republic.
Palace of Government, in the city of La Paz, at the thirty days of the month of September of a thousand nine hundred and forty-eight years.
E. HERTZOG.â € " J. Romero Loza.
