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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ACT 325 OF 1996
(November 5)
Official Gazette No. 42914 of November 7, 1996
Whereby some modifications are enacted in the Revenue Budget and Capital Resources and Appropriations Act for fiscal year 1996. Summary

term Notes
CONGRESS OF COLOMBIA DECREES
:
ESTIMATES OF INCOME AND CAPITAL RESOURCES
ARTICLE 1o. BUDGET OF INCOME AND CAPITAL RESOURCES. Efectúense the following additions to the General National Budget for fiscal year 1996 in the amount of nine hundred thirty-four thousand six hundred and forty million eighty-six thousand two hundred seventy-three legal currency pesos ($ 934,640,086,273), as follows detail:
I. National Budget revenues
Due to the length of this Act publication is omitted and reported that the full text is published in the Official Gazette No. 42914 of 7 November 1996
GENERAL BUDGET REVENUES NATION
Article 2.
. EXPENDITURE BUDGET APPROPRIATIONS ACT OR. Efectúense the following additions to the General National Budget for fiscal year 1996 in the sum of THIRTY NINE THOUSAND SIX HUNDRED FORTY MILLION FOUR HUNDRED EIGHTY SIX THOUSAND THREE HUNDRED SEVENTY PESOS LEGAL CURRENCY ($ 934.640.086.273.oo) according to the follows:
Because the extent of this Law publication is omitted and reported that the full text is published in the official Gazette No. 42914 of 7 November 1996

ARTICLE 3o. Efectúense the following additions to the General National Budget for fiscal year 1996 in the sum of TWO HUNDRED FORTY THOUSAND FOUR HUNDRED TWENTY-NINE MILLION FIVE HUNDRED SIXTY-TWO THOUSAND NINE PESOS, LEGAL CURRENCY ($ 249.421.502.669.oo) according to the follows:
Because the extent of this Law publication is omitted and reported that the full text is published in the official Gazette No. 42914 of 7 November 1996

ARTICLE 4. Based on the resources in the preceding article, open up the following appropriations in the General National Budget for fiscal year 1996 in the sum of TWO HUNDRED FORTY NINE THOUSAND FOUR HUNDRED TWENTY MILLION FIVE HUNDRED AND TWO THOUSAND SIX HUNDRED SIXTY-NINE PESOS LEGAL CURRENCY ($ 249.421.502.669.oo), as follows:
Because the extent of this Law publication is omitted and reported that the full text is published in the official Gazette No. 42914 of November 7 1996.

The 5th ITEM. The Government may issue Treasury securities Class B -TES- based at the Faculty of Law 51 of 1990 according to the following rules: they will not have the joint guarantee of the Bank of the Republic; the estimated revenue of the product of their collaboration will be included in the General Budget of the Nation as capital resources; their performances will be met from the General Budget of the Nation; redemption will be addressed under the resources of the General Budget of the Nation; They may be administered directly by the Nation; They may be denominated in foreign currency; It requires only issue the decree to authorize and fix its financial conditions; issue will not affect the quota endeudameinto and will be limited to those to finance budgetary appropriations in the amount thereof.

ARTICLE 6o. The national government in the settlement decree which exclude transfers counterclaims are committed at the time of sanctioning this law.

ARTICLE 7. Revenue hereby added Budget and Capital Resources in the amount of SIXTY NINE HUNDRED FORTY THOUSAND EIGHT HUNDRED TWENTY EIGHT MILLION SIX HUNDRED TWENTY THOUSAND PESOS LEGAL CURRENCY ($ 69.948.828.624.oo) from tax rationalization, according to the law 223 1995, to balance the Budget of Income and Expense, as follows:
REVENUES oF tHE GENERAL BUDGET oF tHE NATION
I. NATIONAL BUDGET INCOME 69.948.828.624
1. CURRENT INCOME OF THE NATION 350.304.146.855
2. CAPITAL RESOURCES OF THE NATION (269464806201)
6. SPECIAL FUNDS (10890512030)

Article 8. Replace the National Roads Institute the sum of TWENTY SIX THOUSAND FIVE HUNDRED MILLION PESOS CURRENCY ($ 6.520.000.oo) of capital resources for current income by the same amount.


Article 9. Replace the Fund for Rural Investment Cofinancing -DRI- the sum of FIVE HUNDRED THOUSAND TWELVE MILLION PESOS LEGAL CURRENCY ($ 5.912.000.000.oo) of foreign credit resources for other resource capital by the same amount.

ARTICLE 10o. The National Roads Institute, the Nal Fund. Local Roads, Co-financing Funds must obtain as quickly as specific destination appropriations allocated for purchase of equipment and machinery destined to local authorities.

ARTICLE 11th. Funds Cofinancing reserved items with specific destination included in the decree settlement of this law, with the only requirement of the initial submission of projects by local authorities either to Udecos or directly to the Funds Co-financing. These headings reserve will be paid during the first half of 1997.
ARTICLE
the 12th. . Paragraph 4 of Article 66 of Decree No. 2350 of 1995 will read:
Fund Co-financing of routes will be governed by the percentages defined in Article 24 of Law 188 of 1995, except for municipalities with less than 25,000 inhabitants , whose financing will be five percent (5%).
ARTICLE
the 13th. The Corporation of the Rio Grande de la Magdalena - CORMAGDALENA, resources Royalties received from the Fund, will give priority in its program of dredging, the termination of the Chingale-Regidor sectors; Canyon-Chingale and Puerto Berrio-Canyon.
ARTICLE
the 14th. This law applies from the date of publication.
PUBLISH, COMMUNICATE AND COMPLY.
Given in Bogota, DC,
The President of the honorable Senate,
LUIS FERNANDO LONDOÑO CAPURRO.
The Secretary General of the honorable Senate,
PUMAREJO PEDRO VEGA.
The President of the honorable House of Representatives,
GIOVANNI LAMBOGLIA Mazilli.
The Secretary General of the honorable House of Representatives, DIEGO VIVAS
TAFUR.
REPUBLIC OF COLOMBIA - NATIONAL GOVERNMENT

Given published and executed in Santafe de Bogota DC to 5 November.
The Minister of Finance and Public Credit, José Antonio Ocampo Gaviria
.



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