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

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RUSSIAN FEDERATION FEDERAL LAW On investment activities in the Russian Federation implemented in the form of capital investments Adopted by the State Duma on 15 July 1998 { \f29 The } { \f29 } { \f29 } { \f29 } { \f29 } { \f29 Federation } { \f29 } { \f29 } { \f29 } { \f29 } { \f29 } { \f29 17 } { \f29 } { \f29 } { \f29} { \f29} { \f29} { \f29} { \f29} { \f29} { \f29} title= " "> 02.01.2000 g. N 22-FZ; of 22.08.2004 N 122-FZ; of 02.02.2006 N 19-FZ; of 18.12.2006 N 232-FZ; of 24.07.2007 N 215-FZ; dated 17.06.2010 N 119-FZ; dated July 23, 2010. N 184-FZ; dated 18.07.2011 N 215-FZ; dated 19.07.2011 N 248-FZ; of 06.12.2011 N 409-FZ; of 12.12.2011 N 427-FZ; of 28.12.2013 N 396-FZ) This federal law defines the legal and economic fundamentals of investment activities carried out in the form of capital investments in the territory of the Russian Federation, and also establishes The guarantee of equal protection of rights, interests and property of the subjects of investment activities carried out in the form of capital investments, irrespective of the form of ownership. CHAPTER I. GENERAL PROVISIONS Article 1. Key concepts For the purposes of this Federal Act, the following basic concepts are used: investments-money, securities, other property, including property rights, other rights that have money Evaluation of business and/or other business objects for profit and/or other beneficial effects; investment activities-investment and implementation The purpose of profit and/or other beneficial effects; capital investments-investments in fixed assets (fixed assets), including new construction, reconstruction and re-equipment of existing enterprises, acquisition of machines, equipment, tools, tools, etc. design and survey works and other costs; (In the wording of Federal Law of 18 July 2011) N 215-FZ investment project-substantiation of the economic feasibility, volume and timing of capital investments, including the necessary project documentationdeveloped in OF THE PRESIDENT OF THE RUSSIAN FEDERATION href=" ?docbody= &prevDoc= 102058332&backlink=1 & &nd=102115925 "target="contents" title= " "> dated 24.07.2007 N 215-FZ; dated 19.07.2011 N 248-FZ) Priority investment project-investment project, total capital investment in which complies with the requirements of the legislation of the Russian Federation on the list, The Government of the Russian Federation, which is approved by the Government of the Russian Federation; N 22-FZ)time frame of the investment project-from the start of financing of the investment project to the day when the difference between the accumulated amount of the net profit and the amortization charge and The amount of investment costs is positive; (Paragraph added is the Federal Law of 02.01.2000). N 22-FZ) total tax burden-the estimated sum of money payable in the form of federal taxes (excluding excises, value added tax on goods produced in the territory of the Russian Federation) of the Russian Federation) and contributions to state off-budget funds (excluding contributions to the Pension Fund of the Russian Federation) by an investor carrying out an investment project on the day of the beginning of financing of the investment project. (The paragraph is amended by the Federal Act of 2 January 2000). (...) (...) N 409-FZ) Article 2. Relationships governed by this Federal Act This Federal Act applies to investment-related relations, in the form of capital investments. This federal law does not apply to relations involving investments in banks and other credit organizations, as well as insurance organizations, which are regulated by law OF THE PRESIDENT OF THE RUSSIAN FEDERATION and (or) other objects of real estate on the basis of a participation agreement in the The Federal Law of 30 December 2004 on participation in the construction of apartment buildings and other real estate objects and amendments to some legislative acts of the Russian Federation are regulated by the Federal Act of 30 December 2004. (Part added-Federal Law of 02.01.2000) N 22-FZ; as amended by Federal Law of 17 June 2010 N 119-FZ) Article 3. Capital investment objects 1. The objects of capital investment in the Russian Federation are privately owned, State, municipal and other forms of ownership of different types of newly created and (or) modernized property, for exemptions set up by Federal laws. 2. It is prohibited to invest in objects whose creation and use do not correspond to the Russian Federation's legislation. (In the wording of Federal Law dated 19.07.2011. N 248-FZ) 3. Investment activity subject to the construction of extrabudgetary sources of financing on land in the state or municipal property, under a contract concluded with the authority The State authority, the local government authority, the State or municipal institution or the unitary enterprise until 1 January 2011, providing for the allocation of the area of the corresponding investment activity by the parties to the treaty, is recognized as a share property under article 24-2 of the Federal Act of 21 July 1997 "On State Registration of Rights to Immovable Property and Transactions". in the light of the distribution of the share provided for by the treaty. State registration of ownership of these unfinished business objects is not required. The paragraph is supplemented by the Federal Law of 12.12.2011. N 427-FZ Article 4. Subjects of investment activity in the form of capital investments 1. Investment activities carried out in the form of capital investments (hereinafter referred to as investment agents) are investors, customers, contractors, users of capital investment objects and others. 2. Investors are carrying out capital investments in the territory of the Russian Federation using their own and/or borrowed funds in accordance with the legislation of the Russian Federation. The investors may be individuals and legal entities created on the basis of the joint activity agreement and not having the status of legal entity of the association of legal persons, state bodies, local self-government bodies, as well as foreign legal entities. business entities (hereinafter referred to as foreign investors). 3. The customers are natural and legal persons authorized by investors who carry out the implementation of investment projects. In doing so, they do not interfere in the business and (or) other activities of other entities in the investment activity unless otherwise stipulated by the agreement between them. Customers can be investors. The non-investor customer is given the ownership, use and disposition of capital investments for the period and within the limits of the authority established by the contract and (or) the state contract in accordance with OF THE PRESIDENT OF THE RUSSIAN FEDERATION 4. Contractors are natural and legal persons who perform work under a contract and/or a state or municipal contract with customers according to Civil Code of the Russian Federation. Contractors are required to have a license to carry out activities that are subject to licensing according to Federal law. (In the wording of Federal Law of 02.02.2006) 19 FZ 5. Users of capital investment objects are natural and legal persons, including foreign, as well as state bodies, local government bodies, foreign states, international associations and organizations for which they are established the specified objects. The users of the capital investment objects can be investors. 6. The subject of investment activities shall be entitled to combine the functions of two or more entities, unless otherwise stipulated by the contract and/or the public contract concluded between them. Article 5. Activities of foreign investors on the territory of the Russian Federation Relations relating to investment activities carried out in the form of capital investments by foreign investors in the Russian Federation OF THE PRESIDENT OF THE RUSSIAN FEDERATION by federal laws and other regulatory legal instruments OF THE PRESIDENT OF THE RUSSIAN FEDERATION If an international treaty to which the Russian Federation is a party establishes rules other than those established by this Federal Act, the rules of the international treaty shall apply. Chapter II. LEGAL AND ECONOMIC FRAMEWORK INVESTMENT ACTIVITIES DIRECTLY IN THE CASE OF CAPITAL PRESENTATION Article 6. Investors ' rights Investors have equal rights to: investment activities in the form of capital investments, exemptions set by federal laws; self-definition of volumes and the direction of capital investment, as well as the conclusion of contracts with other investment agents under the Civil Code Russian Federation; ownership, Use and management of capital investments and capital investments; contract and (or) state contract for capital investment rights and outcomes to natural and legal persons, State bodies and local self-government bodies in accordance with the legislation of the Russian Federation; control over the use of funds earmarked for capital attachments; merging your own and private funds with By means of other investors for the joint implementation of capital investments on the basis of a treaty and in accordance with the legislation of the Russian Federation; implementation of other rights under the treaty and (or) The State contract in accordance with the legislation of the Russian Federation. Article 7. Responsibilities of investment activities Subjects of investment activity are obliged: to carry out investment activities in accordance with international agreements of the Russian Federation, federal laws and Other normative legal acts of the Russian Federation, the laws of the constituent entities of the Russian Federation and other normative legal acts of the constituent entities of the Russian Federation Federal laws dated 22.08.2004. N 122-FZ; dated 19.07.2011 N 248-FZ) to comply with the requirements of public authorities and their officials, which are not contrary to the laws of the Russian Federation; to use funds for capital expenditure Attachments, by purpose. Article 8. Relationships between investment activity 1. The relationship between the subjects of investment activity is based on the contract and/or the state contract between them according to Civil Code of the Russian Federation. 2. The terms and conditions of contracts and (or) public contracts entered into between the investment agents shall remain valid for the duration of their validity, except in cases provided for by this Federal Act and other federal states. Laws. Article 9. Sources of capital investment financing Financing of capital investments is provided by investors at the expense of their own and/or borrowed funds. Article 10. Interaction of the State authorities of the Russian Federation, the State authorities of the constituent entities of the Russian Federation and the local governments in the investment of the activities of the State In the form of capital investments , the State authorities of the Russian Federation, the State authorities of the constituent entities of the Russian Federation and the local self-government bodies may, by agreement between them, to engage in investment activities, in the form of capital investments, in accordance with the Constitution of the Russian Federation, by this Federal Act and other federal Laws. Chapter III. State SETTLEMENT INVESTMENT ACTIVITIES DIRECTORY IN THE CASE OF CAPITAL PRESENTATION Article 11. Forms and methods of state regulation of the investment activity in capital investments form 1. State regulation of investment activities carried out in the form of capital investments is carried out by the State authorities of the Russian Federation and the State authorities of the constituent entities of the Russian Federation. 2. The federal authorities for regulating investment activities in the form of capital investments use the following forms and methods: (In the wording of the Federal Law dated 22.08.2004. N122-FZ) (1) to create an enabling environment for the development of investment activities in the form of capital investments, by: tax improvement, depreciation mechanism, and Depreciation; { \cs6\f1\cf6\lang1024 } Investment { \cs6\f1\cf6\lang1024 } { \cs6\f1\cf6\lang1024 } { \b } { \b } { \b } { \b } { \b } { \b } { \b } Terms of use of preferential terms for investment Land and other natural resources, not contrary to the legislation of the Russian Federation; increased use of public funds and other extrabudgetary sources of financing for housing construction and construction of facilities Socio-cultural purpose; establishment and development of a network of information and think centres that conduct regular ratings and publish rating assessments of investment agents; antitrust measures; empowerment Use of collateral in lending; development of financial leasing in the Russian Federation; revaluation of fixed assets according to inflation rates; (c) Direct participation of the State in investment activities in the form of capital investments through: development, approval and Financing of the Investment Projects of the Russian Federation Federation together with foreign states, as well as investment projects financed from the federal budget; (In the wording of Federal Law dated 22.08.2004. N 122-FZ ) annual formation of a federal targeted investment program for the next fiscal year and the plan period approved by the federal executive body performing functions The formulation of public policy and regulatory and legal regulation in the sphere of investment activities and its implementation in the manner prescribed by the Government of the Russian Federation; (in the wording of the Federal Law dated 23.07.2010. N 184-FZ) (Paragraph is no-valid-Federal Act of 22 August 2004. N 122-FZ) (Paragraph is no more effective-Federal Law of 28.12.2013). The N 396-FZ ) ) to conduct an expert appraisal of investment projects in accordance with the Russian legislation; protection of Russian organizations from the supply of obsolete and material-intensive, energy-intensive and mineral-intensive deliveries non-oncoal-intensive technologies, equipment, designs and materials; (In the wording of Federal Law of 22.08.2004, 2004). N 122-FZ (Paragraph is no-valid-Federal Act of 19.07.2011) N 248-FZ ) issue of bond issues, guaranteed loans; Involved in the investment process of temporarily suspended and institutionalized structures and facilities Russian and foreign investors in accordance with the laws of the Russian Federation. 2-1. The State authorities of the constituent entities of the Russian Federation can use the following forms and methods to regulate investment activities in the form of capital investments: The approval and implementation of inter-municipal investment projects and investment projects for State property of the constituent entities of the Russian Federation financed from the budgets of the constituent entities of the Russian Federation; appraisal of investment projects according to By law; , the provision of State guarantees for investment projects on a competitive basis from 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 determined by the laws of the respective constituent entities of the Russian Federation; (Paragraph is null and in effect-Federal Law dated 28.12.2013. N 396-FZ) issue of bond issues of Russian Federation subjects, guaranteed loans; Involved in the investment process of temporarily suspended and institutionalized structures and facilities located in of the constituent entities of the Russian Federation The paragraph is supplemented by the Federal Law of 22.08.2004. N 122-FZ 3. State regulation of investment activities carried out in the form of capital investments may be carried out using other forms and methods in accordance with the legislation of the Russian Federation. Article 12. State regulation of the investment activity in the form of capital investments in emergency situations In conditions of occurrence in the territory In the Russian Federation of emergency situations, the activities of the entities involved in the investment activities in the emergency zone are carried out in accordance with the legislation of the Russian Federation. Article 13. The procedure for making decisions about the implementation of public capital investments 1. Decisions on the implementation of public capital investments shall be made by the public authorities in accordance with the legislation of the Russian Federation. 2. The costs of public capital investment are: in the federal budget, provided that these expenses are part of the costs of the respective federal targeted programmes, as well as on the basis of OF THE PRESIDENT OF THE RUSSIAN FEDERATION and on the basis of proposals by the executive branch THE RUSSIAN FEDERATION 3. The development, review and approval of investment projects financed from the federal budget shall be carried out in accordance with the legislation of the Russian Federation in the manner prescribed for federal targeted programmes. The lists of investment projects financed from the federal budget form federal investment programmes. 4. The procedure for financing investment projects from the federal budget is determined by the Government of the Russian Federation and the procedure for financing investment projects from the budgets of the constituent entities of the Russian Federation. OF THE PRESIDENT OF THE RUSSIAN FEDERATION The lists of investment projects financed from the budgets of the constituent entities of the Russian Federation form regional investment programmes. 5. Decisions to use federal budget funds to finance investment projects and (or) investment programs implemented jointly with foreign countries are taken after the Russian Federation The Federation of relevant inter-State agreements. 6. Formation of state contracts, other contracts for construction, reconstruction, including reconstruction with elements of restoration, technical re-equipment of the objects of capital construction of state property, or The acquisition of immovable property in the state ownership of the relevant investment projects is carried out in accordance with the procedure established by the legislation of the Russian Federation on the contractual system in the sphere of procurement. goods, works, services for state and municipal needs. (In the wording of Federal Law No. N 396-FZ 7. Control over the targeted and efficient use of the federal budget for capital investments, in accordance with the legislation of the Russian Federation, is carried out by the Accounts Chamber of the Russian Federation, as well as by the representatives authorized to do so. The federal executive branch. The competent authorities of the Russian Federation are responsible for monitoring the targeted and efficient use of the budgets of the constituent entities of the Russian Federation. Article 14: Check the effectiveness of investment projects financed entirely or partially from the federal budget, budgets of the constituent entities of the Russian Federation, local budgets and their estimated cost 1. Investment projects that are planned to be financed in whole or in part from the federal budget, budgets of the constituent entities of the Russian Federation, local budgets, are to be checked for efficiency of use of the relevant budgets in the cases and in accordance with the procedure established by the regulatory legal acts of the Government of the Russian Federation and the normative legal acts of the constituent entities of the Russian Federation, municipal legal acts. 2. Investment projects planned to be financed in whole or in part from the federal budget for efficiency in the use of the federal budget for capital investments is carried out by the federal executive body responsible for the development of public policy and regulatory and regulatory framework in the sphere of investment activities. 3. The estimated cost of investment projects, which are planned to be financed in whole or in part from the federal budget, budgets of the constituent entities of the Russian Federation and local budgets, is subject to verification for confidence. The use of funds allocated for capital investments in appropriate budgets, in accordance with the regulatory legal acts of the Government of the Russian Federation and the regulatory legal acts of the constituent entities of the Russian Federation, municipal legal acts. (Article in Federal Law of 24.07.2007) 215-FZ) Chapter IV. GOVERNMENT GUARANTEES OF INVESTMENT PROMOTION AND PROTECTION OF CAPITAL REFERENCES Article 15. State guarantees of the rights of subjects investment activity 1. OF THE PRESIDENT OF THE RUSSIAN FEDERATION The Federation guarantees all business entities regardless of their form of ownership: equal rights in investment activities; transparency in investment project discussions; right to appeal against decisions and actions (inaction) of the authorities State authorities, local authorities and their officials; protection of capital investments. 2. In case new federal laws and other regulatory legal acts of the Russian Federation, which change the size of federal taxes (with the exception of excise duties, value added tax on goods produced in the territory), enter into force of the Russian Federation) and contributions to the State extrabudgetary funds (other than contributions to the Pension Fund of the Russian Federation) or are introduced into the current federal laws and other regulatory acts of the Russian Federation. of add-ons that increase total tax burden on activities The investor to implement the priority investment project on the territory of the Russian Federation or establish a regime of prohibitions and restrictions on the implementation of capital investments in the territory of the Russian Federation, as compared to the total amount of capital investments in the Russian Federation. " The tax burden and the regime, acting in accordance with federal laws and other regulatory legal acts of the Russian Federation on the day of the beginning of the financing of the priority investment project, then such new federal laws and other regulations. Russian Federation regulatory legal acts, as well as changes in and Complements to existing federal laws and other regulatory legal acts of the Russian Federation do not apply within the time limits specified in paragraph 3 of this article with respect to an investor who carries out priority investment activities. The project, provided that the goods imported into the Russian Federation by the investor are used as a destination for the implementation of the priority investment project. (...) (...) N 409-FZ) 3. The stability of the investor carrying out the investment project, the terms and conditions specified in this article shall be guaranteed during the period of return of the investment project, but not more than seven years from the start of financing of the project. The timing of the payback of 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 the investor is implementing the priority investment project in the sphere of production or creation of transport or other infrastructure, the payback period of which exceeds seven years. The Government of the Russian Federation shall decide to extend for the said investor the period of validity of the conditions and treatment specified in paragraph 2 of this article. 5. The provisions of paragraph 2 of this article do not apply to amendments and additions to legislative acts of the Russian Federation or to new federal laws and other normative legal acts of the Russian Federation for the purpose of protection. The basic principles of the constitutional system, morality, health, the rights and legitimate interests of other persons, the defence of the country and the security of the state. 6. The Government of the Russian Federation: sets the criteria for assessing changes in unfavourable terms for an investment project on the territory of the Russian Federation. taxes and contributions to public extrabudgetary funds, prohibitions and restrictions on the implementation of capital investments in the territory of the Russian Federation; (in the wording of the Federal Law from 06.12.2011 N 409-FZ) approves the procedure for starting the financing of the investment project, including with the participation of foreign investors; approves the order of registration of priority investment projects; monitors the investor's performance of its commitments to implement the priority investment project within the time frame specified in paragraphs 3 and 4 of this article. In the event of failure of the investor to fulfil the obligations set out in part one of this paragraph, it shall be deprived of the benefits granted to it under this article. The amount of money not paid as a result of the granting of these benefits shall be surrendered in accordance with the procedure established by the legislation of the Russian Federation. (...) (...) N 22-FZ) Article 16. Capital investment protection 1. Capital investments may be: nationalized only if it is prepaid, and is equivalent to the State for damages caused to the subjects of the investment activity, in accordance with Russian Federation Constitution, Civil Code Federation; requisitioned by government decision in the cases, in the order and under the conditions set out in the Civil Code of the Russian Federation. 2. The insurance of capital investments is carried out in accordance with the legislation of the Russian Federation. Article 17. The responsibility of the investment activity 1. In case of violation of the requirements of the legislation of the Russian Federation, the terms of the contract and (or) state contract, the subjects of the investment activity are liable in accordance with the legislation of the Russian Federation. 2. Disputes relating to investment activities carried out in the form of capital investments are settled in accordance with the procedure established by the legislation of the Russian Federation and the international treaties to which the Russian Federation is a party. Article 18. The termination or suspension of an investment activity in the form of capital attachments 1. The cessation or suspension of investment activities carried out in the form of capital investments shall be carried out in accordance with the procedure established by the legislation of the Russian Federation. 2. The procedure for compensation of losses to the subjects of investment activity in the event of termination or suspension of investment activities carried out in the form of capital investments is determined by the legislation of the Russian Federation and the prisoners. contracts and (or) public contracts. 3. A treaty concluded before 1 January 2011 with the authority of the State, the local government, the State or municipal institution or the unitary enterprise, providing for the construction, reconstruction of the land, located in the state or municipal property located within the borders of the constituent entity of the Russian Federation, a city of the federal importance of Moscow or St. Petersburg, and the object of immovable property with the attraction of extrabudgetary sources financing and the subsequent allocation of the area The object of immovable property between the parties to the contract may be terminated premats unilaterally by a public authority or local government, state or municipal institution or unitary authority In the case of a fundamental breach of the terms of this treaty and (or) material alteration of the circumstances in which the parties to the treaty were based on the conclusion of the contract referred to in this article. This contract is terminated after one month from the date of the public authority or local government, state or municipal institution, or unitary authority by the notification of avoidance of the contract. Before the expiry of the specified period of time, the party to the contract may submit written objections to the authority of the State or local authorities on the matter of the termination of the contract. In case of receipt by a public authority or local government body of these objections before the expiry of the specified period, the contract shall be deemed to be terminated from the date of the submission by the public authority or the local authority. Self-Government of the notification of confirmation of the earlier decision on the termination of the contract. A significant breach of the terms of the treaty, which allows its unilateral termination by the relevant public authority or local government, state or municipal authority The institution or the unitary enterprise is: default on construction, reconstruction of the real estate property within the period stipulated by the contract or lease agreement of the corresponding land plot, or in the absence of such a period in the treaties in time for which permits for construction, reconstruction of this facility, if the construction readiness of the immovable property on the last day of such construction is less than 40 per cent of its total construction, reconstruction, In accordance with the procedure established by the law of the Russian Federation in accordance with the procedure established by the legislation of the Russian Federation; of immovable property in the case where no provision is made in this contract The deadline for the completion of construction, the reconstruction of this facility. A significant change in the circumstances in which the parties to the treaty relied on the conclusion of a treaty by which its unilateral termination by a public authority or by a local government body is permitted, State or municipal institution or unitary enterprise is the impossibility of fulfilling the obligations of construction, reconstruction of real estate objects due to impossibility of granting land Section of the Act of the Russian Federation The Federation, as well as the existence of an encumbering of a land or an immovable property located on it, is subject to the rights of third parties to the construction and reconstruction of the immovable property. A reversal of the contract in connection with other material violations of its terms and/or significant changes in the circumstances on which the parties to the treaty relied upon its conclusion shall be exercised in accordance with the Legislation. The paragraph is supplemented by the Federal Law of 12.12.2011. N 427-FZ 4. With regard to obligations arising from a treaty concluded before 1 January 2011 with a public authority, a local government, a State or a municipal institution or a unitary enterprise, providing for Construction, reconstruction of a land in state or municipal property located within the borders of the constituent entity of the Russian Federation, the city of federal significance of Moscow or St. Petersburg, the object of real estate extrabudgetary resources and beyond The distribution of the area of the respective immovable property between the parties to the contract, including upon its dissolution, compensation for damages, including loss of profits, is not permitted by the parties to the contract, except in the case of the case, Paragraph 5 of this article. Upon its dissolution by a public authority, a local government authority, a state or municipal institution or a unitary enterprise unilaterally, the other parties to the treaty shall be compensated for the documentary The confirmed direct costs of fulfilling the obligations on it, which are calculated on the basis of interest, in accordance with the procedure established by article 395 of the Civil Code of the Russian Federation. (...) (...) (...) (...) N 396-FZ) 5. With regard to obligations arising from a treaty concluded before 1 January 2011 with the federal executive, federal state institution or federal unitary enterprise, providing for Construction, reconstruction on land owned by the Russian Federation and located within the borders of the constituent entity of the Russian Federation, a city of the federal importance of Moscow or St. Petersburg, a real estate object with extrabudgetary sources of funding and follow-up The Government of the Russian Federation has the right to decide on the determination of the amount of the loss on the obligation, from the treaty. (amended by the Federal Law of 28 December 2013). N 396-FZ) Chapter V OF THE INVESTMENT RULE OF INVESTMENT IN THE FORME OF THE INVESTMENT OF THE INVESTMENT OF THE LANGUAGE OF THE LOCAL AUTHORITY, THE LOCAL AUTHORITY Article 19. The form and methods of regulating the investment of activities carried out in the form of capital investments, local governments 1. Regulation of local government investment activities carried out in the form of capital investments stipulates: 1) creation of favorable conditions for development of investment in municipalities activities carried out in the form of capital investments by: establishing local tax incentives for investment agents; protecting investors ' interests; Investment activities not contrary to Russian legislation Federation of preferential terms for the use of land and other natural resources in municipal property; increasing the use of public funds and other extrabudgetary sources of financing for housing and Socio-cultural facilities; 2) direct participation of local governments in investment activities carried out in the form of capital investments by: development, approval and Investment projects implemented by municipalities Education; (Paragraph is no-valid-Federal Law of 28.12.2013. N 396-FZ) to review investment projects in accordance with the legislation of the Russian Federation; issue of municipal loans in accordance with the legislation of the Russian Federation; Involved in the investment process of temporarily suspended and institutionalized construction and municipal property. 2. Local governments shall provide, on a competitive basis, municipal guarantees for investment projects from local budgets. The procedure for granting municipal guarantees from local budgets is approved by a representative body of local self-government in accordance with the legislation of the Russian Federation. 3. The costs of investing activities in the form of capital investments by local governments are provided for by local budgets. The bodies authorized by the representative bodies of local self-government are responsible for monitoring the targeted and efficient use of local budgets for capital investments. 4. In the case of the participation of local governments in financing investment projects implemented by the Russian Federation and the constituent entities of the Russian Federation, the development and approval of these investment projects shall be carried out in accordance with the local authorities. 5. Local self-government authorities have the right to interact with local government bodies in other municipalities, including by combining their own and attracted funds on the basis of the investment. OF THE PRESIDENT OF THE RUSSIAN FEDERATION 6. Regulation by local governments of investment activities carried out in the form of capital investments may be carried out using other forms and methods in accordance with the legislation of the Russian Federation. Article 20. Municipal Guarantees of the Rights of Actors Investment Activities Local Government Authorities within the limits of their powers under this Federal Law, other federal laws and other normative acts OF THE PRESIDENT OF THE RUSSIAN FEDERATION Investment performance; Discussion of investment projects; stability of the rights of investment agents. Chapter VI: FINAL PROVISIONS Article 21. On the recognition that some of the laws in connection with the adoption of this Federal Law have been repealed by the adoption of this Federal Act to be repealed by the provisions of this Federal Act, against this Federal Law: Law of the RSFSR "On Investment Activities in the RSFSR" (Statements of Congress of People's Deputies RSFSR and the Supreme Soviet of the RSFSR, 1991, N 29, Art. 1005); Ruling of the Supreme Soviet of the RSFSR "On the enactment of the RSFSR Law on Investment Activities in the RSFSR" of the People's Deputies of the RSFSR and the Supreme Soviet of the RSFSR, 1991, 1006); Article 5 of the Federal Law " On introducing amendments and additions to legislative acts of the Russian Federation in connection with the adoption of the Laws of the Russian Federation OF THE PRESIDENT OF THE RUSSIAN FEDERATION 2397). Article 22. Entry into force of this Federal Law This Federal Law shall enter into force on the date of its official publication. Article 23. To bring the legal acts in line with this Federal Law to the President of the Russian Federation, to the Government of the Russian Federation to bring its legal acts into conformity with this Federal Law. President of the Russian Federation B. Yeltsin Moscow, Kremlin 25 February 1999 N 39-FZ