On Investment Activity In The Russian Federation Carried Out In The Form Of Capital Investments

Original Language Title: Об инвестиционной деятельности в Российской Федерации, осуществляемой в форме капитальных вложений

Read the untranslated law here: http://pravo.gov.ru/proxy/ips/?doc_itself=&infostr=x&backlink=1&fulltext=1&nd=102058332

RUSSIAN FEDERATION FEDERAL LAW on investment activity in the Russian Federation carried out in the form of capital investments adopted by the State Duma July 15, 1998 the year approved by the Federation Council of the year July 17, 1998 (as amended by the federal laws of 02.01.2000 N 22-FZ;
from 22/08/2004, no. 122-FZ; from 2/2/2006 N 19-FZ;
from 18.12.2006 y. N 232-FZ; from 24.07.2007 N 215-FZ;
from 17.06.2010 N 119-FZ; from 23.07.2010 g. N 184-FZ;
from 18/07 N 215-FZ; from 19/07/2011 N 248-FZ;
from 06.12.2011 N 409-FZ; from 12/12 N 427-FZ;
from 28.12.2013 N 396-FZ) this federal law defines the legal and economic framework for investment activities in the form of capital investments on the territory of the Russian Federation, and also establishes guarantees of equal protection of rights, interests and property of subjects of investment activities in the form of capital investments, irrespective of their form of ownership.
Chapter i. General provisions article 1. Basic concepts for the purposes of this federal law uses the following concepts: investment funds, securities or other property, including property rights, other rights having monetary value invested in objects of entrepreneurial and (or) other activities in order to make a profit and (or) achieving another useful effect;
investments-investments and implementation of practical action in order to make a profit and (or) achieving another useful effect;
capital investments-investments in fixed assets (fixed assets), including the costs of new construction, reconstruction and technical re-equipment of enterprises, acquisition of machinery, equipment, tools, equipment, design and survey works and other expenses; (As amended by the Federal law of 18 N 215-FZ) investment project justification the feasibility, scope and timing of capital expenditures, including the necessary project documentation, developed in accordance with the legislation of the Russian Federation, as well as a description of practical actions for the implementation of the investment (business plan); (As amended by the federal laws on 24.07.2007 N 215-FZ; from 19/07/2011 N 248-FZ) of priority investment project-investment project, the total volume of capital investments which complies with the requirements of the legislation of the Russian Federation, included in the list approved by the Government of the Russian Federation; (The paragraph is supplemented by federal law from 02.01.2000 N 22-FZ) payback of the investment project-term from the date of the beginning of financing investment project until the day when the difference between the accumulated sum of net profit with amortization deductions and the amount of investment costs becomes a positive value; (The paragraph is supplemented by federal law from 02.01.2000 N 22-FZ) total tax burden-the estimated total volume of money to be paid in the form of federal taxes (excluding excise duties, value added tax on goods produced in the territory of the Russian Federation) and contributions to the State budget funds (except for the contributions to the Pension Fund of the Russian Federation) Investor, carrying out the investment project, on the first day of the investment project financing. (The paragraph is supplemented by federal law from 02.01.2000 N 22-FZ) (As amended by the Federal law dated 06 N 409-FZ), Article 2. Relations regulated by this federal law, the effect of this federal law applies to relations associated with investment activities in the form of capital investment.
This federal law does not apply to relationships involving investments investments in banks and other credit organizations, as well as insurance companies, which are regulated by the legislation of the Russian Federation, respectively, on banks and banking and insurance legislation of the Russian Federation, as well as the relationships that are connected with attraction of funds of individuals and legal entities for multi-family housing and (or) other real estate objects on the basis of the contract of participation in share participation construction and are governed by the Federal law of December 30, 2004 N 214-FZ "on participation in share participation construction of apartment buildings and other real estate and on amendments to certain legislative acts of the Russian Federation". (Part is supplemented by federal law from 02.01.2000 N 22-FZ; as amended by federal law from 17.06.2010 N 119-FZ), Article 3. Investment objects 1. Objects of capital investments in the Russian Federation are in private, State, municipal and other forms of ownership of different kinds of newly created and (or) upgraded equipment for exceptions established by federal laws.
2. Prohibited investments in objects, create and use which does not conform to the legislation of the Russian Federation. (As amended by the Federal Act of 19/07/2011 N 248-FZ)

3. The object of investment activity, which is carried out with extrabudgetary sources of funding on a plot of land in State or municipal ownership, under a contract concluded with a State authority, local government body, a public or municipal institution or unitary enterprise until January 1, 2011 year and providing for the allocation of the corresponding object square investment activity between the parties to the Treaty, recognizes the shared property of the parties to this agreement prior to the moment of State registration of ownership of this object, in accordance with article 24-2 of the Federal law of 21 July 1997 year N 122-ФЗ "about the State registration of rights to real estate and transactions with it", taking into account the distribution of the shares under this agreement.
State registration of the right of ownership to those unfinished objects of investment activity is not required. (Para supplemented by federal law from NTM N 427-FZ), Article 4. Subjects of investment activities in the form of investments 1. Subjects of investment activities in the form of capital investment (hereinafter subjects of investment activity), are investors, customers, contractors, users of objects of capital investment and others.
2. investors are carrying out capital investments on the territory of the Russian Federation with their own and (or) raised funds in accordance with the legislation of the Russian Federation. Investors may be individuals or legal entities established on the basis of the contract about joint activity and do not have the status of legal person associations of legal entities, State bodies, local self-government bodies, as well as foreign business entities (hereinafter referred to as foreign investors).
3. Customers-authorized investors those natural and legal persons who carry out investment projects. In so doing, they do not interfere in business and (or) activity of other subjects of investment activities, unless otherwise provided by the contract between them. Customers can be investors.
The customer who is not an investor, vested rights of possession, use and disposal of capital investments for the period and within the authority established by the Treaty and (or) a public contract in accordance with the legislation of the Russian Federation.
4. Contractors-both natural and legal persons who perform work on contract and (or) a State or municipal contract concluded with the customer in accordance with the Civil Code of the Russian Federation. Contractors are required to have a license to carry out their activities subject to licensing in accordance with federal law. (As amended by the Federal Act of 2/2/2006 N 19-FZ)
5. the users of the facilities capital investment-natural and legal persons, including foreign ones, as well as State and local self-government bodies, foreign Governments, international associations and organizations for which the specified objects are created. Users of the facilities capital investment may be investors.
6. The subject of investment activity have the right to combine the functions of two or more entities, unless otherwise stated in the contract and (or) state contract concluded between them.
Article 5. Activities of foreign investors in the territory of the Russian Federation relations associated with investment activities in the form of investments by foreign investors in the territory of the Russian Federation are governed by the international treaties of the Russian Federation, the Civil Code of the Russian Federation, this federal law, other federal laws and other regulatory legal acts of the Russian Federation. If an international treaty of the Russian Federation stipulates other rules than those stipulated by this federal law, the rules of the international treaty shall apply.
CHAPTER II. Legal and economic FRAMEWORK FOR INVESTMENT activities in the FORM of CAPITAL INVESTMENT Article 6. Rights of investors Investors have equal rights: the exercise of investment activities in the form of capital investments, with the exceptions established by federal laws;
determine the volume and directions of capital investments, as well as the conclusion of agreements with other entities investment activity in accordance with the Civil Code of the Russian Federation;
possession, use and disposal of objects of capital investment and the results carried out by the capital investment;
the transfer of the Treaty and (or) state contract their rights on the implementation of capital investment and on their results to individuals and legal entities, State bodies and bodies of local self-government in accordance with the legislation of the Russian Federation;
monitor the purposeful use of funds allocated for capital investments;

combining own and attracted funds with funds from other investors for joint capital investments on the basis of the Treaty and in accordance with the legislation of the Russian Federation;
implementation of other rights under the contract and (or) a public contract in accordance with the legislation of the Russian Federation.
Article 7. Responsibilities of subjects of investment activity investment activity Entities must: carry out investment activity in accordance with international treaties of the Russian Federation, federal laws and other regulatory legal acts of the Russian Federation and laws of constituent entities of the Russian Federation and other normative legal acts of the constituent entities of the Russian Federation and bodies of local self-government; (As amended by the federal laws from 22/08/2004, no. 122-FZ; from 19/07/2011 N 248-FZ) to fulfill requirements for State authorities and their officials, not contrary to the legislation of the Russian Federation;
use the funds for capital investment, for the intended purpose.
Article 8. Relations between the subjects of investment activities 1. Relations between the subjects of the investment activity carried out on the basis of the Treaty and (or) Government contract concluded between them, in accordance with the Civil Code of the Russian Federation.
2. Terms and conditions of the contracts and (or) public contracts concluded between subjects of investment, remain valid for the duration of their actions, except for the cases stipulated by this federal law and other federal laws.
Article 9. Sources of financing capital investment financing capital investments is carried out by investors at the expense of its own and (or) raised funds.
Article 10. Interaction of bodies of State power of the Russian Federation, bodies of State power of the constituent entities of the Russian Federation and bodies of local self-government in the investment activities in the form of capital investment Bodies of State power of the Russian Federation, bodies of State power of the constituent entities of the Russian Federation and bodies of local self-government in coordination between them can collaborate in investment activities in the form of capital investments, in accordance with the Constitution of the Russian Federation, this federal law and other federal laws.
CHAPTER III. STATE REGULATION of INVESTMENT activities in the FORM of CAPITAL INVESTMENT Article 11. Forms and methods of State regulation of investment activity carried out in the form of investments 1. State regulation of investment activities in the form of capital investments is carried out by the State authorities of the Russian Federation and State Government bodies of constituent entities of the Russian Federation.
2. the federal organs of State power to regulate investment activities carried out in the form of capital investments, use one of the following forms and methods: (as amended by federal law from 22/08/2004, no. 122-FZ) 1) creating an enabling environment for the development of investment activities in the form of capital investments through: improving the system of taxes, depreciation and amortization usage;
the establishment of entities involved in investment activity of special tax regimes, not of an individual nature;
protect the interests of investors;
the provision of favourable conditions of investment activity entities to use land and other natural resources, do not contradict the legislation of the Russian Federation;
expanding the use of public funds and other extrabudgetary sources of financing for housing and the construction of social and cultural objects;
the establishment and development of information-analytical centers, carrying out regular ratings and ratings publication subjects of investment activity;
the adoption of anti-monopoly measures;
build capacity in the use of liens when implementing credit;
the development of financial leasing in the Russian Federation;
conduct re-evaluation of fixed assets in accordance with the rate of inflation;
enabling the formation of subjects of investment activity of its own investment funds;
2) direct State participation in the investment activity carried out in the form of capital investments by: development, approval and financing of investment projects undertaken by the Russian Federation in cooperation with foreign States, as well as investment projects, financed from the federal budget; (As amended by federal law from 22/08/2004, no. 122-FZ)

the annual formation of the federal targeted investment program for the next fiscal year and the planned period, approved by the federal body of executive power executing the functions of State policy and normative-legal regulation in the sphere of investment activity, and its implementation in the manner prescribed by the Government of the Russian Federation; (As amended by federal law from 23.07.2010 g. N 184-FZ)
(Paragraph repealed Federal Act from 22/08/2004, no. 122-FZ)
(Paragraph repealed Federal Act from 28.12.2013 N 396-FZ) examination of investment projects in accordance with the legislation of the Russian Federation;
protecting Russian organizations from supplying obsolete and material-intensive, energy-intensive and non technologies, equipment, structures and materials; (As amended by federal law from 22/08/2004, no. 122-FZ)
(Paragraph repealed Federal Act of 19/07/2011 N 248-FZ) issue bonds guaranteed targeted loans;
involvement in the investment process suspended and sealed buildings and objects that are in State property;
granting concessions to Russian and foreign investors trades (auctions and contests) in accordance with the legislation of the Russian Federation.
2-1. State authorities of the constituent entities of the Russian Federation for regulating investment activities in the form of capital investments, can use the following forms and methods: development, approval and implementation of intermunicipal investment projects and investment projects on the objects of State property of subjects of the Russian Federation, financed from the budgets of the constituent entities of the Russian Federation;
examination of investment projects in accordance with the law;
the provision, on a competitive basis of State guarantees for investment projects at the expense of the budgets of the constituent entities of the Russian Federation. The procedure for granting State guarantees at the expense of the budgets of the constituent entities of the Russian Federation is governed by the laws of the relevant constituent entities of the Russian Federation;
(Paragraph repealed Federal Act from 28.12.2013 N 396-FZ) bond issues guaranteed by the constituent entities of the Russian Federation, targeted loans;
involvement in the investment process suspended and sealed buildings and facilities owned by the constituent entities of the Russian Federation. (Para supplemented by federal law from 22/08/2004, no. 122-FZ)

3. State regulation of investment activities in the form of capital investments can be accessed using different forms and methods in accordance with the legislation of the Russian Federation.
Article 12. State regulation of investment activities in the form of capital investments in the face of extraordinary situations on the territory of the Russian Federation emergencies activity of investment activity, trapped in a zone of an emergency situation shall be carried out in accordance with the legislation of the Russian Federation.
Article 13. Decisions on the implementation of State capital investments 1. Decision on the implementation of State capital investments will be accepted by the public authorities, in accordance with the legislation of the Russian Federation.
2. the cost of State capital investments include: in the federal budget, provided that these costs are part of the implementation of the respective costs of federal targeted programmes, as well as on the basis of proposals from the President of the Russian Federation or the Government of the Russian Federation;
in the budgets of the constituent entities of the Russian Federation, provided that these costs are part of the costs of implementing the relevant regional targeted programmes, as well as on the basis of proposals from the executive authorities of the constituent entities of the Russian Federation.
3. the development, review and approval of investment projects, financed from the federal budget, are manufactured in accordance with the legislation of the Russian Federation in the manner provided for federal targeted programmes. Lists of investment projects, financed from the federal budget, form the Federal investment programs.
4. the procedure for financing the investment projects financed by the federal budget is determined by the Government of the Russian Federation, and the manner of financing the investment projects financed by the budgets of the constituent entities of the Russian Federation, the executive authorities of the relevant constituent entities of the Russian Federation. Lists of investment projects, financed from the budgets of the constituent entities of the Russian Federation to form a regional investment programmes.

5. Decision on the use of federal funds to finance investment projects and (or) the investment programmes undertaken by the Russian Federation, together with foreign Nations, shall be made by the Russian Federation after the conclusion of the relevant international agreements.
6. Public contracts, other contracts for the construction, reconstruction, including the restoration of elements reconstruction, technical re-equipment of capital construction of State-owned property, or acquisition of real estate objects into public ownership during realization of the relevant investment projects carried out in the manner prescribed by the legislation of the Russian Federation on the contract system in the area of procurement of goods, works and services for public and municipal needs. (As amended by the Federal law of 28.12.2013 N 396-FZ)
7. Monitor the purposeful and effective use of federal funds allocated for capital investments, in accordance with the legislation of the Russian Federation shall implement the accounts Chamber of the Russian Federation, as well as authorized by federal bodies of executive power. Control over the purposeful and effective use of budgets of the constituent entities of the Russian Federation carry out authorized by relevant authorities of the constituent entities of the Russian Federation.
Article 14. Checking the efficiency of investment projects financed wholly or partly at the expense of the federal budget, the budgets of the constituent entities of the Russian Federation, local budgets and the validity of their estimated value of 1. Investment projects, which will be fully or partially at the expense of the federal budget, the budgets of the constituent entities of the Russian Federation, local budgets shall be checked for efficiency in the use of allocated funds for capital investments of the respective budgets in the cases and pursuant to procedure established correspondingly normative legal acts of the Government of the Russian Federation, normative legal acts of the constituent entities of the Russian Federation and municipal legal acts.
2. Check the investment projects are to be implemented fully or partially at the expense of the federal budget, with a view toward efficiency Capex held federal budget federal body of executive power executing the functions of State policy and normative-legal regulation in the sphere of investment activity.
3. the estimated cost of the investment projects, the financing of which is wholly or partly at the expense of the federal budget, the budgets of the constituent entities of the Russian Federation, local budgets shall be checked for reliability use destined for the capital investment of the respective budgets in the manner prescribed by the regulations of the respectively, the Government of the Russian Federation, normative legal acts of the constituent entities of the Russian Federation and municipal legal acts. (Article in the Editorial Office of the Federal law on 24.07.2007 N 215-FZ), chap. IV. The STATE GUARANTEES the RIGHTS of SUBJECTS of investment and INVESTMENT PROTECTION Article 15. The State guarantees the rights of subjects of investment activities 1. State in accordance with this federal law, other federal laws and other regulatory legal acts of the Russian Federation and laws of constituent entities of the Russian Federation and other normative legal acts of the constituent entities of the Russian Federation guarantees all entities involved in investment activities, irrespective of their form of ownership: equal rights when conducting investment activities;
transparency in the discussion of investment projects;
the right of appeal to the courts against the decisions and actions (inactivity) of State bodies, local self-government bodies and their officials;
protection of capital investments.

2. in the event that new federal laws and other regulatory legal acts of the Russian Federation, altering the dimensions of federal taxes (excluding excise duties, value added tax on goods produced in the territory of the Russian Federation) and contributions to the State budget funds (except for the contributions to the Pension Fund of the Russian Federation), or shall be entered in the applicable federal laws and other regulatory legal acts of the Russian Federation changes and additions that lead to an increase in the total tax burden on activity of investor for realization of priority investment project on the territory of the Russian Federation or establish a regime of prohibitions and restrictions with regard to the implementation of capital investment in the territory of the Russian Federation in comparison with the total tax burden, and, acting in accordance with the federal laws and other regulatory legal acts of the Russian Federation on the date of the beginning of the funding priority investment project , these new federal laws and other regulatory legal acts of the Russian Federation, as well as changes and additions made to the applicable federal laws and other regulatory legal acts of the Russian Federation shall not apply during the periods referred to in paragraph 3 of this article in respect of an investor, carrying out priority investment project, provided that the goods imported into the Russian Federation by the investor, are used for the purpose of realization of priority investment project. (As amended by the Federal law dated 06 N 409-FZ)
3. Stability for investor implementing investment project, conditions and modes specified in this article shall be guaranteed during the payback period of investment project, but no more than seven years from the date of the financing of the project. Differentiation of the payback of the investment projects depending on their species is determined in accordance with the procedure established by the Government of the Russian Federation.
4. In exceptional cases when implementing investor priority investment project in production or transport or other infrastructures, the payback period is more than seven years. The Government of the Russian Federation is taking the decision to extend for a specified investor expiration conditions and regime referred to in paragraph 2 of this article.
5. the provisions of paragraph 2 of this article shall not apply to the changes and additions that are made to the legislative acts of the Russian Federation, or new federal laws and other regulatory legal acts of the Russian Federation to protect the foundations of the constitutional system, morality, health, rights and lawful interests of other persons, ensure national defense and State security.
6. the Government of the Russian Federation establishes criteria for evaluating changes in the disadvantaged for investor implementing priority investment project on the territory of the Russian Federation regarding the conditions for charging federal taxes and contributions to the State budget funds, regime of prohibitions and restrictions regarding capital investments on the territory of the Russian Federation; (As amended by the Federal law dated 06 N 409-FZ) approves that defines the day of the beginning of financing the investment project, including the participation of foreign investors;
approves the registration of priority investment projects;
carries out the control over execution of investor commitments for the implementation of priority investment project within the deadlines specified in paragraphs 3 and 4 of this article.
In case the investor commitments referred to in the first part of this paragraph, it is deprived of the benefits granted in accordance with this article. The amount of money not paid as a result of the provision of these benefits shall be returned in the order established by the legislation of the Russian Federation. (Article in the Editorial Office of the Federal law dated 02.01.2000 N 22-FZ) Article 16. Protection of investments 1. Capex can be: nationalized only subject to prior and equivalent compensation for the damages caused by State entities involved in investment activity, in accordance with the Constitution of the Russian Federation, the Civil Code of the Russian Federation;
requisitioned by the decision of the public authorities in the cases, on such terms and conditions that you define civil code of the Russian Federation.
2. the insurance capital investments are carried out in accordance with the legislation of the Russian Federation.
Article 17. Responsibility of subjects of investment activities 1. In case of violation of the requirements of legislation of the Russian Federation, the conditions of the contract and (or) Government contract actors investment activities bear responsibility in accordance with the legislation of the Russian Federation.

2. Disputes arising from investment activity carried out in the form of capital investment shall be settled in the manner prescribed by the legislation of the Russian Federation, international treaties of the Russian Federation.
Article 18. Termination or suspension of investment activities in the form of investments 1. Termination or suspension of investment activities in the form of capital investment is made in the manner prescribed by the legislation of the Russian Federation.
2. Procedure of compensating loss of entities involved in investment activity in the event of termination or suspension of investment activities in the form of capital investments, determined by the legislation of the Russian Federation and the contracts and (or) public contracts.
3. A contract concluded before January 1, 2011 year with a State authority, local government body, a public or municipal institution or unitary enterprise and construction, reconstruction of the plot of land, located in State or municipal ownership and located within the boundaries of the constituent entities of the Russian Federation-Federal cities of Moscow or St. Petersburg, real estate with the assistance of extrabudgetary funding and subsequent distribution of the square of the corresponding object of immovable property between the parties to the Treaty may be terminated prematurely, unilaterally, State authority or local government authority, public or municipal institution or unitary enterprise in the case referred to in this article of a significant breach of the terms of this agreement and (or) a substantial change in the circumstances from which the parties to this Agreement proceeded in his opinion.
This agreement shall be deemed terminated upon the expiry of one month from the date of a public authority or a body of local self-government, public or municipal institution or unitary enterprise notification on termination of the contract.
Prior to the expiration of the month party under this Agreement shall be entitled to send to the State authority or local government authority to issue written objections to termination of this agreement. In the case of a State body or local self-government body these objections before the specified month term this Agreement shall be deemed terminated from the date of State authority or local government authority notification of confirmation of the earlier decision on the termination of the contract.
A significant breach of the terms and conditions of this agreement, which termination shall be allowed unilaterally to the relevant State authority or local government authority, public or municipal institution or unitary enterprise is: failure to perform obligations on construction, reconstruction of property in accordance with this agreement or the lease agreement of the corresponding land, or if no such period of data contracts in the period for which a building permit is issued , the reconstruction of this object if object of immovable property construction readiness on the last day of such period is less than forty per cent of the total construction, reconstruction, provided for approved in accordance with the legislation of the Russian Federation project documentation;
lack of after five years from the date of conclusion of this agreement permits for construction, reconstruction of the property if this Treaty does not provide a deadline for construction, reconstruction of this object.
Substantial change of circumstances from which the parties to this Agreement proceeded in concluding a treaty by which termination is allowed to unilaterally State authority or local government authority, public or municipal institution or a unitary enterprise is the impossibility of fulfillment of obligations for implementation of construction, reconstruction of objects of immovable property in connection with the inability to provide land in accordance with the legislation of the Russian Federation, as well as the existence of encumbrances land or located on object of immovable property rights of third parties obstacles to construction, reconstruction of a real estate object.
Termination of this agreement in connection with other significant violations of its terms and (or) a substantial change of circumstances from which the parties to this Agreement proceeded in his custody shall be carried out in accordance with civil law. (Para supplemented by federal law from NTM N 427-FZ)


4. with regard to the obligations arising from a contract entered into before January 1, 2011 year with a State authority, local government body, a public or municipal institution or unitary enterprise and construction, reconstruction on land in State or municipal ownership and located within the boundaries of the constituent entities of the Russian Federation-Federal cities of Moscow or St. Petersburg, real estate with the assistance of extrabudgetary funding and subsequent distribution of the square of the corresponding object of immovable property between the parties to the Treaty including upon its dissolution, compensation for damages, including lost profits, the parties of this contract are not permitted, except in the case specified in paragraph 5 of this article. At the dissolution of State authority, local government body, a public or municipal institution or unitary enterprise unilaterally other parties of this contract are compensated for documented direct costs of performance of the obligations, the amount which accrued interest in accordance with Article 395 of the Civil Code of the Russian Federation. (Para supplemented by federal law from NTM N 427-FZ) (As amended by the Federal law of 28.12.2013 N 396-FZ)
5. with regard to the obligations arising from a contract entered into before January 1, 2011 year with a federal body of executive power, Federal Government institution or federal state unitary enterprise and construction, reconstruction on land that is owned by the Russian Federation and located within the boundaries of the constituent entities of the Russian Federation-Federal cities of Moscow or St. Petersburg, real estate with the assistance of extrabudgetary funding and subsequent distribution of the square of the corresponding object of immovable property between the parties to this agreement upon its dissolution by agreement of the parties The Government of the Russian Federation has the right to take a decision on the determination of the amount of damages for the obligations arising from the Treaty. (Para supplemented by federal law from 28.12.2013 N 396-FZ), chapter v. REGULATORY FRAMEWORK FOR INVESTMENT activities in the FORM of CAPITAL INVESTMENTS, BODIES of LOCAL SELF-GOVERNMENT, Article 19. Forms and methods of control of investment activities in the form of capital investment, local authorities 1. Regulation of investment activity by the local self-government bodies, carried out in the form of capital investment, provides: 1) creation in the municipalities of favourable conditions for the development of investment activities in the form of capital investments by: establishing entities involved in investment activity benefits to pay local taxes;
protect the interests of investors;
provide subjects of investment activities do not contradict the legislation of the Russian Federation on concessional terms to use land and other natural resources in the municipal property;
expanding the use of public funds and other extrabudgetary sources of financing for housing and the construction of social and cultural objects;
2) direct participation of local governments in investment activities in the form of capital investments by: development, approval and financing of investment projects undertaken by municipal entities;
(Paragraph repealed Federal Act from 28.12.2013 N 396-FZ) examination of investment projects in accordance with the legislation of the Russian Federation;
issue municipal loans in accordance with the legislation of the Russian Federation;
involvement in the investment process suspended and sealed buildings and objects of municipal property.
2. Local self-government bodies provide, on the basis of competitive municipal guarantees for investment projects at the expense of local budgets. The order of provision of municipal guarantees at the expense of the local budget it is alleged the representative body of local self-government in accordance with the legislation of the Russian Federation.
3. Expenditure for investment activities in the form of capital investment by local governments, provides for local budgets. Control over the purposeful and efficient management of local budgets allocated for capital investment, implementing bodies, authorized representative bodies of local self-government.

4. In the case of participation of local governments in financing investment projects undertaken by the Russian Federation and constituent entities of the Russian Federation, the development and approval of these investment projects are carried out in consultation with local authorities.
5. in carrying out investment activities and local self-government bodies shall have the right to interact with local self-government bodies of other municipalities, including by combining the own and attracted funds on the basis of a contract between them and in accordance with the legislation of the Russian Federation.
6. Regulation of local self-government bodies of investment activities in the form of capital investments can be accessed using different forms and methods in accordance with the legislation of the Russian Federation.
Article 20. Municipal guarantees of the rights of subjects of the investment activities of local government bodies within its competence, in accordance with this federal law, other federal laws and other regulatory legal acts of the Russian Federation and laws of constituent entities of the Russian Federation and other normative legal acts of the constituent entities of the Russian Federation guarantees all subjects of investment activity: equal rights when conducting investment activities;
transparency in the discussion of investment projects;
stability of the rights of subjects of investment activity.
CHAPTER VI. FINAL PROVISIONS Article 21. About repealing certain acts in connection with the adoption of this federal law in connection with the adoption of this federal law shall be declared null and void in part contrary to the norms of the present Federal Act: the Act of the RSFSR "on investment activity in the RSFSR" (records of the RSFSR Congress of people's deputies and the Supreme Soviet of the RSFSR, 1991, no. 29, p. 1005);
the Decree of the Supreme Soviet of the RSFSR "on the implementation of the Act of the RSFSR" on investment activity in the RSFSR (RSFSR Congress of people's deputies and the Supreme Soviet of the RSFSR, 1991, no. 29, art. 1006);
Article 5 of the Federal law on amendments and additions to the legislative acts of the Russian Federation in connection with the adoption of the laws of the Russian Federation on standardization, maintenance of unity of measurements "," on certification of products and services "(collection of laws of the Russian Federation, 1995, no. 26, art. 2397). Article 22. The entry into force of this federal law this federal law shall enter into force on the day of its official publication.
Article 23. Bringing legal acts in accordance with this federal law, the President of the Russian Federation, the Government of the Russian Federation to bring its legal acts in compliance with this federal law.
The President of the Russian Federation, b. Yeltsin, Kremlin, Moscow February 25, 1999 N 39-FZ