Why Some Changes Are Enacted In The Revenue Budget And Capital Resources And Appropriations Act For Fiscal Year 1996

Original Language Title: Por la cual se decretan unas modificaciones en el Presupuesto de Rentas y Recursos de Capital y en la Ley de Apropiaciones para la vigencia fiscal de 1996

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1996 ACT 325

(November 5)

Official Journal No. 42,914 of 7 November 1996

By which changes are enacted in the Capital Resources and Resources Budget and in the Appropriations Act for the fiscal year of 1996.

Vigency Notes Summary

THE CONGRESS OF COLOMBIA,

DECRETA:

REVENUE AND CAPITAL RESOURCES BUDGETS

ARTICLE 1o. INCOME AND CAPITAL RESOURCES BUDGET. Edate the following additions to the General Budget of the Nation for the fiscal life of 1996, in the sum of nine hundred and thirty-four thousand six hundred and forty million and six thousand two hundred and seventy-three pesos legal currency ($934,640,086.273), according to the following detail:

I. Revenue from the National Budget

Due to the length of this Law its publication is omitted and the full text is reported to be published in Official Journal No. 42,914 of November 7, 1996.

INCOME FROM THE GENERAL BUDGET OF THE NATION

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ARTICLE 2o. SPENDING BUDGET OR APPROPRIATIONS ACT. Edate the following additions to the General Budget of the Nation for the fiscal life of 1996, in the sum of NINE HUNDRED AND THIRTY-FOUR THOUSAND SIX HUNDRED AND FORTY MILLION EIGHTY-SIX THOUSAND TWO HUNDRED AND SEVENTY-THREE PESOS LEGAL CURRENCY ($ 934.640,086.273.oo) according to the following detail:

Due to the length of this Law its publication is omitted and the full text is reported to be published in Official Journal No. 42,914 of November 7, 1996.

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ARTICLE 3o. Edate the following additions to the General Budget of the Nation for the fiscal life of 1996, in the sum of TWO HUNDRED AND FORTY-NINE THOUSAND FOUR HUNDRED AND TWENTY-ONE MILLION FIVE HUNDRED TWO THOUSAND SIX HUNDRED AND SIXTY-NINE PESOS, LEGAL CURRENCY ($249.421.502.669.oo) according to the following detail:

Due to the length of this Law its publication is omitted and the full text is reported to be published in Official Journal No. 42,914 of November 7, 1996.

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ARTICLE 4. Con the basis of the resources in the previous article, please open the following credits in the General Budget of the Nation for the fiscal life of 1996, in the sum of TWO HUNDRED AND FORTY-NINE THOUSAND FOUR HUNDRED AND TWENTY-ONE MILLION FIVE HUNDRED TWO THOUSAND SIX HUNDRED AND SIXTY NINE PESOS LEGAL CURRENCY ($249,4221.502.669.oo) according to the following detail:

Due to the length of this Law its publication is omitted and the full text is reported to be published in Official Journal No. 42,914 of November 7, 1996.

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ARTICLE 5o. The National Government will be able to issue Treasury securities -TES-Class B based on the law of Law 51 of 1990 in accordance with the following rules: they will not have the solidarity guarantee of the Bank of the Republic; the estimate of the proceeds of their collaboration will be included in the General Budget of the Nation as capital resources; their returns will be addressed to the General Budget of the Nation; their redemption will be attended by The resources of the General Budget of the Nation can be administered directly They may be denominated in foreign currency; their issuance will only require the decree authorizing it and setting their financial conditions; their issuance will not affect the debt quota and will be limited, for those intended to finance the Budget appropriations for the amount of these.

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ARTICLE 6o. The national government in the decree of liquidation shall exclude the transfers whose contraccredites are committed at the time of the sanctioning of this law.

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ARTICLE 7o. Addition to the Capital Resources and Resources Budget in the sum of SIXTY-NINE THOUSAND NINE HUNDRED AND FORTY-EIGHT MILLION EIGHT HUNDRED AND TWENTY-EIGHT THOUSAND SIX HUNDRED AND TWENTY-FOUR PESOS LEGAL CURRENCY ($69,948,828.624.oo), resulting from the tax rationalisation, in accordance with Law 223 of 1995, to balance the Revenue and Expenditure Budget, according to the following detail:

INCOME FROM THE GENERAL BUDGET OF THE NATION

I. REVENUE FROM THE NATIONAL BUDGET 69,948.828.624

1. NATION ' S CURRENT INCOME 350.304.146,855

2. NATION ' S CAPITAL RESOURCES (269.464.806.201)

6. SPECIAL FUNDS (10.890.512.030)

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ARTICLE 8o. Substitute at the National Institute of Vias the sum of SIX THOUSAND FIVE HUNDRED AND TWENTY MILLION PESOS CURRENT ($6,520,000.oo) of capital resources for current income, at the same amount.

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ARTICLE 9o. Substitute in the Rural Investment Co-financing Fund-the sum of FIVE THOUSAND NINE HUNDRED TWELVE MILLION PESOS LEGAL CURRENCY ($5,912,000,000,oo) of external credit resources by another capital resources, at the same level.

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ARTICLE 10o. The National Institute of Vias, the Nal Fund. of the National Roads, the Cofinancing Funds will have to deal with the highest speed the specific allocation appropriations allocated for purchase of equipment and machinery for use by local authorities.

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ARTICLE 11o. The Cofinancing Funds will reserve the items with specific destination included in the decree of liquidation of this law, with the only requirement of the initial submission of the projects by part of the territorial entities either to the Udecos or directly to the co-financing funds. These items to be reserved will be paid during the first half of 1997.

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ARTICLE 12o. Article 66 (4) of Decree Nro. 2350 of 1995 will be as follows:

The Vias Co-financing Fund will be governed by the percentages defined in Article 24 of Law 188 of 1995, with the exception of municipalities with less than 25,000 inhabitants, whose co-financing will be five percent. (5%).

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ARTICLE 13o. The Magdalena-CORMAGDALENA Rio Grande Corporation, of the resources received from the Royalty Fund, will give priority in its dredging program, to the completion of the sectors Chingale-Regidor; Barranca-Chingale and Puerto Berrio-Barranca.

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ARTICLE 14o. This law applies as of the date of its publication.

PUBLISH, COMMUNICATE AND COMPLY.

Dada en Santafe de Bogota, D.C.,

The President of the honorable Senate of the Republic,

LUIS FERNANDO LONDONO CAPURRO.

The Secretary General of the honorable Senate of the Republic,

PEDRO PUMAREJO VEGA.

The President of the honorable House of Representatives,

GIOVANNI LAMBOGLIA MAZILLI.

The Secretary General of the honorable House of Representatives,

DIEGO VIVAS TAFUR.

COLOMBIA-NATIONAL GOVERNMENT

PUBLISH AND EXECUTE

Dada en Santafe de Bogota D.C. a los 5 de Noviembre.

The Minister of Finance and Public Credit,

JOSE ANTONIO OCAMPO GAVIRIA.

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