It Delayed The Entry Into Force Of The Reavaluo Of The Estate Farm

Original Language Title: POSTERGA LA VIGENCIA DEL REAVALUO DE LOS BIENES RAICES AGRICOLAS

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"(Artículo único.-Introdúcense las siguientes modificaciones en la ley Nº 19.575: a) Reemplazanse, in the first paragraph of article 1, the expressions"December 31 of the year 2000 ","on June 30, 1999"and"1 January of the year 2001"by the expressions"31 December of the year 2001","31 December of the year 2000"and"1 January of the year 2002" respectively.

(b) replaced article 2, introduced by the single article of law Nº 19.629, by the following: ' article 2.-empowering the President to reduce, for once, the annual rate of the land tax of goods agricultural roots and increase the amount of the exemption from the land tax benefiting the farms. " This faculty be governed from 1 July of the year 2001, but the rate reductions and the increase in the exemption will take effect from the date on which enters into force the reavaluo of goods agricultural roots to which this Act applies.
The President of the Republic shall exercise this ability on the occasion of the reavaluo of goods agricultural estate referred to in article 1 if comparing, in currency of equal value, projecting annual of the total amount of the same contributions rotated without considering the effect of the reavaluo, with the total amount corresponding to later turn him, the latter proves higher by more than 10% to the first.
This power shall be exercised in such a way that the annual projection of the total amount drawn as a result of the application of the reavaluo does not exceed 10% referred to the annual projection of the amount revolved before the reavaluo. "."