EXTENSION OF THE VALIDITY OF AGRICULTURAL REAL ESTATE ENDORSEMENTS Having present that the H. National Congress has |! |given its approval to the following P r o y c t o d e l e y: '' Article unique.-Amend the law No 19,575, as follows: 1) Replace, in the first paragraph of your unique article, which happens to be 1st, the expressions "June 30, 1999", "" June 30, 1998 '' and "July 1, 1999" "by the expressions" "December 31, 2000 ''," June 30, 1999 '' and "" 1 of January 2001 '', respectively. 2) Add the following article 2, new: " Article 2.-The President of the Republic shall be empowered to reduce, for once, the annual rate of the territorial tax of agricultural real estate and increase the amount of the tax exemption Territorial benefits for agricultural land. This power will be governed by 1 July 2000, but the reduction of the fee and the increase in the exemption will take effect from the date on which the reavaluo of the agricultural real estate referred to in this law takes effect. The President of the Republic shall exercise this power on the occasion of the reappraisal of the agricultural real estate referred to in Article 1 1 if, when comparing, in currency of equal value, the annual projection of the total amount of the same contributions In the case of reavalus, the total amount corresponding to the value of the reavalus shall be more than 10% higher than the first. This faculty will be exercised in such a way that the annual projection of the total amount rotated as a result of the application of the reavaluo does not exceed in the referred 10% to the annual projection of the amount rotated before the reavaluo. '' And because I have had to either approve and sanction it; therefore, promulgate and take effect as the Law of the Republic. Santiago, 13 August 1999.-EDUARDO FREI RUIZ-TAGLE, President of the Republic.-Angel Sartori Arellano, Minister of Agriculture.-Eduardo Aninat Ureta, Minister of Finance. What I transcribe to you for your knowledge.-Salutes intently to Ud., Jean Jacques Duhart Saurel, Undersecretary of Agriculture.