RUSSIAN FEDERATION FEDERAL LAW On the order of review and approval of the federal budget for 1996 adopted by the State Duma on 12 July 1995 Approval The Council of the Federation on 21 July 1995 This Federal Act defines the terms and procedures for the consideration and approval of the federal budget for 1996. C t I am 1. The Government of the Russian Federation shall submit to the State Duma of the Federal Assembly of the Russian Federation a draft federal law "On the federal budget for 1996", until 1 August 1995, with the following documents and materials: Preliminary results of the social and economic development of the Russian Federation for 1995; forecast of the socio-economic development of the Russian Federation for 1996; of the Russian Federation for 1996; The principles and characteristics of the federal budget's relationship with the budgets of the constituent entities of the Russian Federation in 1996; forecasts of the consolidated budget of the Russian Federation for 1996; and federal programmes for the development of the regions provided for in the federal budget in 1996 with funding sources; results of the federal budget and of the Russian Federation for the first half of 1995 Implementation of the 1995 budgets and performance report for 1994; calculations for all articles and sections of the federal budget for 1996. The Government of the Russian Federation is also submitting draft federal laws to the State Duma, if necessary to amend and supplement the legislation of the Russian Federation on taxes. The federal budget expenditure for 1996 in the federal budget bill for 1996 is presented in a functional and departmental budget classification, with a deciphering of the target articles and types of expenditure. C) I am 2. The Government of the Russian Federation is submitting to the State Duma: for the period prior to 1 September 1995-draft budgets for 1996 of the following public extrabudgetary funds not consolidated in Federal budget: Pension Fund of the Russian Federation, Social Insurance Fund of the Russian Federation, State Employment Fund of the Russian Federation, Federal Compulsory Health Insurance Fund; The target date of 15 September 1995 is the targeted federal investment programme. C but I am 3. The Central Bank of the Russian Federation submitted to the State Duma the draft basic monetary policy agreed upon by the Government of the Russian Federation for 1996. C t I am 4. The State Duma considers the draft federal budget for 1996 in three readings. At the same time, the first reading of the bill is conducted no later than 10 October 1995. C but I am 5. Before considering the draft federal budget law for 1996 on first reading, the committees and the commission of the State Duma shall submit to the State Duma Committee on Budget, Taxes, Banks and Finance The draft law, on the basis of which the Committee is preparing an opinion on the draft federal law "On the federal budget for 1996", and submits it to the State Duma for consideration. C t I am 6. In its first reading, the State Duma considers the main features of the Russian Federation's social and economic development forecast for 1996 and draft laws on the federal budget for 1996. of the Russian Federation to amend and supplement the legislation of the Russian Federation on taxes and approves the main indicators of the federal budget for 1996, which include: the distribution of revenues from federal taxes and charges between Federal budget and budgets of the constituent entities of the Russian Federation; Federal budget revenues in terms of income classification and income; the size of the federal budget imbalance (deficit) in absolute amounts and as a percentage of the federal budget expenditure for 1996; expenditures of the federal budget as a whole. In the first reading of the federal law on the federal budget for 1996, the State Duma passed the bill to the conciliation commission on the clarification of the main indicators of the federal budget for 1996. OF THE PRESIDENT OF THE RUSSIAN FEDERATION The Commission, on the basis of the recommendations set out in the conclusion of the State Duma Committee on Budget, Taxes, Banks and Finance, is in the process of developing an agreed version of the federal budget for 1996 and for the next 10 days. The draft Federal Law "On the Federal Budget for 1996" is submitted to the State Duma for consideration in the first reading. C t I am 7. In the second reading, the State Duma approved the federal budget bill for the year 1996 under the federal budget for the second reading of the federal budget. The federal budget defines the list of protected articles of the federal budget and the upper limit of the appropriations for protected articles as a percentage of the federal budget for 1996. C but I am 8. In the third reading, the Federal Law on the Federal Budget for 1996 is put to the vote for adoption as a whole. C t I am 9. The Federal Law "On the Federal Budget for 1996" of the Federation Council of the Federal Assembly of the Russian Federation shall be reviewed and approved in accordance with the procedure established by the Constitution of the Russian Federation. C t I am 10. Within a month of the entry into force of the Federal Law "On the federal budget for 1996", the Government of the Russian Federation submits for consideration and approval by the State Duma a draft federal law on quarterly distribution. income (in terms of income classification and taxes) and expenditures (functional and departmental classification and federal programme allocations) of the federal budget for 1996. C t I am 11. Draft budgets for 1996 of State extrabudgetary funds not consolidated in the federal budget are reviewed and approved by the State Duma within four months from the date of their introduction. At the same time, the insurance contribution is approved at the same time as the draft laws on amendments and additions to the legislative acts of the Russian Federation on taxes, and the revenues and expenditures of extrabudgetary funds are reviewed and approved At the same time, the 1996 federal budget was reviewed and approved in the second reading. C t I am 12. In the event of non-adoption by 1 January 1996 of the draft federal law "On the federal budget for 1996", the State Duma adopts a federal law on the financing of public expenditures from the federal budget in the first quarter of 1996. C t I am 13. Prior to the adoption of the new version of the Law of the RSFSR "On the foundations of the budget structure and budgetary process in the RSFSR", article 16, paragraph 3, of articles 20, 21 and 22 of the said Law is suspended. C and I am 14. The Government of the Russian Federation shall submit monthly information to the State Duma on the implementation of the federal budget for 1996 and a quarterly report on the implementation of the Federal Act on the federal budget for 1996; of the Russian Federation's consolidated budget for 1996 and the 1996 budgets of State extrabudgetary funds. C t I am 15. This law shall enter into force on the date of its official publication. President of the Russian Federation Yeltsin Moscow, Kremlin 31 July 1995 N 118-FZ