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GRANTS SPECIAL BONUS FOR LOWER INCOME SECTORS

Original Language Title: OTORGA BONO ESPECIAL PARA LOS SECTORES DE MENORES INGRESOS

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LAW NO. 20,262 GRANTS SPECIAL BONUS FOR LOWER INCOME SECTORS Having regard to the fact that the National Congress has given its approval to the following Bill: " Article 1 °.-Concedese, for one time, a special bonus of $20,000, which is pay in a single fee, the month following the publication of this law in the Official Journal, together with the subsidies, benefits or remuneration, as appropriate, to the families registered in the Social Protection System "Chile Solidarity" at 31 of March 2008; to the beneficiaries of family allowance laid down in Law No 18.020, and to the Article 2 (b) and (c) of Article 2 of the Decree Law No. 150 of 1982 of the Ministry of Labor and Social Welfare, which perceive the benefit of the family allowance provided for in that decree with force of the law and whose monthly income in March 2008 is equal to or less than $250,000. For these purposes, the monthly income referred to in Article 2 (2) of Law No 18,987 shall be considered as monthly income. The special bonus set out in this article shall be a tax charge and shall be paid to those who have any of the qualities referred to in the preceding paragraph as at 31 March 2008. The said bonus will not constitute remuneration or income for any legal effect and, consequently, will not be taxable or taxable and will not be affected at any discount. The payment of this special bonus will be made by the Institute for Contingency Normalization. In the case of workers receiving family allowance, the bonus will be paid by the respective employer, applying the rules on payment and recovery of the family allowances set out in the aforementioned decree with force of law No 150. Each beneficiary shall be entitled only to a special bonus, even if it has more than one of the qualities indicated for access to it. If you have more than one quality of beneficiary and one of them is a family registered in the Social Protection System "Chile Solidarity", you will be awarded the bonus as a beneficiary of said System of Protection. To those who mischievously perceive the special bonus granted by this article, the administrative and penal sanctions that may be applicable to them will apply. Article 2.-Conceese, for one time, to the beneficiaries referred to in Article 22 of Law No 20.233, a supplementary bonus of $13,044.-to be paid in May 2008 in conjunction with the benefit referred to in Article 22 of that law. The bonus referred to in this article shall be a tax charge, shall not constitute income or remuneration for any legal effect and, consequently, shall not be taxable or taxable and shall not be affected at any discount. Transitional single article.-The greatest expenditure that the implementation of this law represents during the year 2008, will be financed by transfers from the budget item Treasury of the Budget Law of this year, understood increased by the sum of the net value referred to in the first subparagraph of Article 4 (2) of Law No 20,232. ' And because I have had to approve and sanction it; therefore, promulgate and take effect as the Law of the Republic. Santiago, April 18, 2008.-MICHELLE BACHELET, President of the Republic.-Andres Velasco Branes, Minister of Finance.-Osvaldo Andrade Lara, Minister of Labor and Social Welfare. What I transcribe to you for your knowledge.-Salute intently to you, Maria Olivia Recart Herrera, Deputy Finance Secretary.