On Amendments To The Budget Code Of The Russian Federation To Create A Stabilization Fund Of The Russian Federation

Original Language Title: О внесении дополнений в Бюджетный кодекс Российской Федерации в части создания Стабилизационного фонда Российской Федерации

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Expired-the Federal law dated 26.04.2007 N 63-FZ RUSSIAN FEDERATION FEDERAL LAW on amendments to the budget code of the Russian Federation to create a stabilization fund of the Russian Federation adopted by the State Duma on November 28, 2003 the year approved by the Federation Council December 10, 2003 year Article 1 amend the budget code of the Russian Federation (collection of laws of the Russian Federation, 1998, N 31, art. 3823; 2000 N 32, St. 3339) the following additions: 1) supplemented by chapter 13-1 as follows: "chapter 13-1. STABILIZATION FUND of the RUSSIAN FEDERATION, Article 96-1. Stabilization Fund of the Russian Federation 1. Stabilization Fund of the Russian Federation (hereinafter referred to as the Stabilization Fund)-part of the federal budget surplus due to oil prices exceeded over the base price of oil to be solitary accounting, management and use in order to balance the federal budget while lowering oil prices below the base.
2. The price of oil is understood as the price of crude oil brand "Urals blend", determined in the manner provided for establishing the rates of import duty on crude oil.
Below the base price of oil refers to the price of crude oil brand "Urals blend", which is equivalent to a United States $146 per tonne (20 United States dollars for one barrel).
Article 96-2. The procedure for the formation of the stabilization fund 1. Sources of formation of the stabilization fund are: additional revenues of the federal budget, formed by calculation due to the exceeding oil prices over a base price in accordance with paragraph 2 of this article;
balances the federal budget at the beginning of the financial year in the manner determined in accordance with paragraph 3 of this article, including revenues obtained from placements of funds stabilization fund.
2. Additional revenues of the federal budget, credits in the stabilization fund in current month, defined as the sum of actual revenues to the federal budget funds, export duty on crude oil for the current month multiplied by the ratio of the difference existing in the current month rates of import customs duties on crude oil and the basis of calculation specified duty when the underlying oil price to the current in the current month rate of export duty on crude oil;
actual income in federal budget funds tax on mineral extraction (oil) in the current month multiplied by the ratio of the difference existing in the current month of the tax rate on mining (oil) and the basis of calculation of the specified tax at basic price of oil during the current month to the current tax rate on mining (oil).
Calculation and listing in the Stabilization Fund of funds referred to in this paragraph shall be made in accordance with the procedure determined by the Government of the Russian Federation.
3. the stabilization fund in the period before 1 February of the year following the reporting month, credited balances the federal budget at the beginning of the fiscal year, with the exception of the balances on which the Federal law on the federal budget for the next fiscal year or an international treaty of the Russian Federation establishes another procedure for use, as well as the unencumbered balances of the federal budget, Ministry of Finance of the Russian Federation needed to cover temporary cash gaps arising in the course of the year in the execution of the federal budget in an amount equal to one twenty-fourth approved for the respective fiscal year federal budget expenditures, including payments for repayment of public external debt of the Russian Federation, excluding funds allocated in the budget of the Pension Fund of the Russian Federation to pay base part of the labour pension.
The Government of the Russian Federation on its consideration of the report on the execution of the federal budget for the previous financial year to 1 June this year, said the volume of federal budget surpluses to be used in accordance with the Federal law on the federal budget for the financial year concerned.
Article 96-3. Use of funds stabilization fund Funds stabilization fund could be used to finance the federal budget deficit while lowering oil prices below the base, as well as for other purposes if accumulated funds stabilization fund exceeds 500 billion. rubles.
Use of funds the stabilization fund are determined by the Federal law on the federal budget for the financial year concerned, the draft of which shall be paid by the Government of the Russian Federation.
Article 96-4. Management stabilization fund 1. Management stabilization fund is carried out by the Ministry of Finance of the Russian Federation in accordance with the procedure determined by the Government of the Russian Federation.
Individual authority to manage funds stabilization fund may be the Central Bank of the Russian Federation under contract with the Government of the Russian Federation.

2. the funds of the stabilization fund may be placed in the debt of foreign countries, a list of which is approved by the Government of the Russian Federation.
Article 96-5. Accounting and reporting of operations with funds stabilization fund 1. Operations with funds stabilization fund are recorded in separate accounts of the federal Treasury, opened at the Central Bank of the Russian Federation.
2. accounting operations with funds stabilization fund shall be carried out in accordance with the procedure established to account for operations with funds from the federal budget.
3. operations with funds stabilization fund is reflected in the performance report of the federal budget.
4. the Government of the Russian Federation shall transmit quarterly (cumulative) and annual reports to the State Duma of the Federal Assembly of the Russian Federation and the Council of Federation of the Federal Assembly of the Russian Federation on the flow of funds to the Stabilization Fund, they are placed and used as part of reporting on the execution of the federal budget.
Ministry of Finance of the Russian Federation monthly publishes information about balances, the stabilization fund at the beginning of the month, the amount of revenue stabilization fund and (or) use of funds stabilization fund in accounting month. ";
2 Article 192, paragraph 1) supplemented by a paragraph reading as follows: ' calculations of projected stabilization fund at the beginning and at the end of the next fiscal year, the projected revenue stabilization fund and (or) use of funds stabilization fund in the next financial year. "
Article 2 this federal law shall enter into force on January 1, 2004 year.
The President of the Russian Federation v. Putin in Moscow, the Kremlin December 23, 2003 N 184-FZ

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