Allocates Resources To The Development Fund Of The Magallanes And The Anta Rtica Chilena N Regia And Modifies Other Bodies Legal Indicating

Original Language Title: DESTINA RECURSOS PARA EL FONDO DE DESARROLLO DE LA REGIÓN DE MAGALLANES Y DE LA ANTÁRTICA CHILENA Y MODIFICA OTROS CUERPOS LEGALES QUE INDICA

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Replace the first paragraph with the following: "article 1.-the Development Fund in the Region of Magallanes and Chilean Antarctica will be constituted by" " : (i) the revenue the State get by concept of exploitation rights referred to in article 6 of the Decree Law N ° 2.312, 1978; and (ii) all revenue that State perceives or retain, deducted taxes, as a result of the difference between the value of the production of gas or oil and the remuneration that pays contractors in accordance with each special operation agreement under cover of the decree with force of law N ° 2 of 1987, the Ministry of mining , in both cases, on the occasion of the activities of exploitation of gas and/or oil in that Region. Such resources will be used annually to the Fund through its incorporation in the respective law of budgets. Said Fund shall be cumulative and will be managed by the Regional Government for its allocation to projects of promotion and development of the Region. "."

(b) add the following new second paragraph, passing the current subsection second to be third paragraph: "in the case of income referred to in the literal (ii) above, the amount of resources to be transferred by the State to the Fund may not exceed 5% of the total value of the production of gas or oil" deducted taxes, carried out by the relevant contractors. For these purposes refers to oil production, the measured amount at the point of delivery of oil and gas production, the measured amount at the point of the gas control, established, in each case, in the respective special operation contracts. "."

2 Add in item 2 °, then the point aside that happens to be followed, the following sentence: "the same shall be applicable to the province of Última Esperanza.".

3 refer to the following article 3 °, new: "article 3.-the investment of the resources of the Fund referred to in article 1 of this law shall be governed until December 31 of the year 2007, as provided in the 02 glosses and following the starting Ministry of the Interior-Gobiernos regional law N ° 20.141, of Public Sector budgets in 2007." From now on, from the aforementioned date, the rules that will govern the investment of these resources will be incorporated in the respective budgets Act. "."