LAW 12 December 2001 130


BUDGET ESTIMATES OF THE STATE AND LOCAL BULLETIN BD LICI
FOR THE FINANCIAL YEAR 2002 AND MULTI-YEAR BUDGET 2002/2004

We the Captains Regent of the Most Serene Republic of San Marino
Promulgate and publish the following law approved by the Great and General Council
its meeting of 12 December 2001. Art.1

In accordance with Article 18 of Law 18 February 1998 n. 30 is approved, in terms of
competence, the State Budget for the financial year 2002 (Appendix "A"):

been forecasting an Entrance Title 1-Tax revenues € 394,932,000.00
Title 2-Revenue extratributarie € 48,138,855.00
Title 3-Alienation, depreciation of assets and



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7. 6 6



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0-Title 4 Revenue from power by mortgages € 23,083,564.00
Title 5-Matches of around € 25,339,800.00
General Total revenue € 509,159,819.00


forecast for Output State Title 1-Ongoing charges € 452,709,675.00
Title 2-Capital expenditures € 28,544,673.00
Title 3-repayment of loans € 2,565,671.00
Title-4 Matches around € 25,339,800.00
General Total Expenses € 509,159,819.00

Art.2 Pursuant to Article 18 of Law 18 February 1998 n. 30 is approved, in terms of competence,
the balance of the Autonomous State Company forecast Philatelic - Numismatic
for the financial year 2002 (Appendix "B"):

been forecasting an Entrance Title-1 Current revenues € 3,271,500.00
Title 2-extraordinary Revenue € 8,250.00
Title 4-Special Accounts € 10,766,660.00
Title 5-Matches
around € 538,902.00 Total € 14,585,312.00 General Revenue || |
forecast for Output State Title 1-current outputs € 2,936,903.00
Title 2-Outputs capital € 28,500.00
Title 3-Capital movements € 314,347.00
Title 4-Special Accounts € 10,766,660.00
Title 5-Matches around € 538,902.00
General Total Expenses € 14,585,312.00 Art.3

According to Article 18 of Law 18 February 1998 n. 30 is approved, in terms of competence,
the Company the Budget Autonomous State Production
for the financial year 2002 (Appendix "C"): forecasting State
an Entrance | || Title-1 Current revenues € 24,634,942.00
Title 2 and balance sheet Revenue € 10,328.00
Title 4-Special Accounts 1,240,000.00 €

Title 6-Matches around €

14,072,900.00 Total General Revenue 39,958,170.00 €


forecast for Output State Title 1-Ongoing charges € 14,460,785.00
Title 2-Extraordinary Expenses € 10,019,224.00
Title 3-Capital expenditures € 165,261.00
Title 5-Special Accounts € 1,240,000.00
Title 6-Matches around € 14,072,900.00
General Total Expenses € 39,958,170.00

Art.4 Pursuant to Article 18 of Law 18 February 1998 n. 30 is approved, in terms of competence,
the balance of the Company's forecast of Autonomous State for Public Services for the year 2002 financial
(Annex "D"):

been forecasting an Entrance Title-1 Current revenues € 44,583,738.00
Title 2-Capital movements € 5,165,085.00
Title 3-Special Accounts 420,909.00 €

Title 4-games-turn 937,367.00 €

General Total Revenue €

51,107,099.00
forecast for Output State Title 1-current outputs € 34,704,838.00
Title 2-Capital movements-Capital expenditures € 7,408,039.00
Title 3-Special Accounts € 3,080,287.00
Title-4 Matches around € 937,367.00
General Total Expenses € 46,130,531.00

Art.5 According to Article 18 of Law 18 February 1998 n. 30 is approved, in terms of competence,
the the San Marino National Olympic Committee the Budget for the financial year
2002 (Appendix "E"):

been forecasting an Entrance Title 1-ordinary Revenue € 4,465,000.00
Title 2-extraordinary Revenue € 160,000.00
Title 3-Revenue € 64,000.00 different
Title 4-games-turn 214,000.00 €

General Total Revenue 4,903,000.00 €


forecast for Output State Title 1-Ongoing charges € 4,418,500.00
Title 2-Extraordinary Expenses € 80,000.00
title 3-Charges can not be divided
€ 71,000.00
Title 4-Capital expenditures € 30,000.00
Title 5-repayment of loans € 89,500.00
Title 6-Matches around € 214,000.00

General Total Expenses € 4,903,000.00

Art.6 Pursuant to Article 18 of Law 18 February 1998 n. 30 is approved, in terms of competence,
the Institute Forecast Budget for Social Security for the financial year 2002
(Appendix "F"): forecasting an Entrance State
|| | Title 1-current revenue € 195,609,000.00
Title 2-capital revenue € 11,000.00
Title 4-Matches around € 12,886,000.00
General Total revenue € 208,506. 000,00

forecast State of Output Title 1-current outputs € 187,554,000.00
Title 2-Outputs capital € 3,430,000.00
Title 3-games-turn € 12,886,000.00
Total General Expenses € 203,870,000.00 Art.7

According to Article 18 of Law 18 February 1998 n. 30 is approved, in terms of competence,
the Budget of the University for the financial year 2002 (Appendix "G"):

been forecasting an Entrance Title 1-ordinary entrance € 2,685,000.00
Title 2-extraordinary entrance € 591,653.00
Title 3-Entry into the capital account € 981,268.00
Title 4-games-turn 309,874.00 €

General Total Revenue 4,567,795.00 €


forecast for Output State Title 1-Ongoing charges € 4,226,934.00
Title 2-capital expenditures € 30,987.00
Title 3-Matches around € 309,874.00
General Total Expenses € 4,567,795.00



Article 8. In accordance with Article 18 of Law 18 February 1998 n. 30 is approved, in terms of competence,
the Central del Latte di Autonomous State Company Budget for 2002 financial
(Annex "H"):
Total costs € 2,477,244.65
Total Revenues € 2,447,183.50
operating profit expected € 30,061.15 Art.9

In accordance with Articles 2 and 34 of Law 30 of 18 February 1998 are approved, in terms of
competence, the following multi-annual budgets for the 2002/2004 tiennio
1. Multi-year state budget (Appendix "I");
2. Multi-year financial statements of the Company Autonomous Philatelic-Numismatic State (Annex
"L"); 3
. Multi-year financial statements of the Company Autonomous Production State (Annex "M");
4. Multi-year budget of the Autonomous State Company for Public Services (Annex "N");
5. Multi-year budget of the National Olympic Committee of San Marino (Annex "O")
6. Multi-year budget of the Institute for Social Security (Annex "P");
7. Multi-year budget of the University (Appendix "Q").

Art.10 are authorized commitment, liquidation and payment of the costs at each chapter
output of the State Budget.
The deferred charges, non-continuous or recurrent, subject to the annual limit of the appropriations,
you may also be authorized on the futur exercises in accordance with Articles 10 and 34 of Law 18
February 1998 n.18.
With the approval of the financial statements, shall be considered automatically approved and committed the
compulsory expenditure due to the salary costs of personnel, for the
mortgage amortization installments, interest and related charges, following the execution of contracts or
law, as per the attached "R". Art.11

They are authorized - with the possibility of adjusting the revenue - the assessment, collection and
payment of taxes in the state treasury, taxes, income, contributions and any other income of the State pertaining
. Art.12

The Congress of State is empowered to bank tire, through a resolution,
in the relevant chapters, and between the same funds the appropriations set out in chapters 03/01/2470 "
reserve fund for unexpected expenses" 01/03/2480 "reserve fund compulsory expenditure" and 03.01.2490 "of
Fund intervention" and to engage in subsequent years, subject to their destination, the availability
not used.

Art.13

The Congress of State is authorized to issue, by its deliberations, the necessary
changes to expenditure items in the tour matches, in close correlation with the findings on the corresponding chapters
of entry and within the mandatory limits of the investigation themselves . Art.14

And 'the exclusive competence of the State Congress to define the maintenance extraordinary
and execution of public works which must provide - direclty or indirectly -
the Autonomous State of Production Company.
The Congress of State also has the provision of monthly dues of the
Endowment Fund allocation for manpower due to the aforesaid Company, referred to cap.1-3-2590. Art.15

The Congress of State is authorized to provide all'AASFN also periodic advances

To account on the basis of an appropriate agreement ual, which is to be defined
program of philatelic and numismatic for 2002, its estimated cost,
well as the collection premium agreed for the sales and philatelic and numismatic values.
The AASFN is authorized to collect on behalf of the Treasury Department and the State Administration of Post
proceeds from the sale of circulating coins and
stamps for postal use at face value conl 'bbligo to provide at least quarterly to
payment to the Treasury of the sums collected, to be charged on sections 940 and 950 of the
State Budget.
It remains responsible for the financial year 2002 all'AASFN the management of telephone cards
emissions, including all the related loading and accounting. Art.16

The Congress of State is authorized to provide for advances, the annual contribution to the CONS of
Article 8 of Law 13 March 1997 n.32. Art.17

The Congress of State is authorized to have an agreement for 2002 with the lenders
available for the provision of soft loans referred to Read March 11, 1981 n. 22:20
September 1989 n. 96 up to the total amount of € 1,941,878.00 with
reserving the expenses will be borne by the state, even for previous loans, on pertinen
expenditure items. Art.18

Pursuant to Article 6 of the Law 29 September 1987 n. 118 and the Law 28 January 1993 n
. 13 and subsequent amendments and additions, the Congress of State is authorized to
convenzionarsi for 2002, with institutions providing for the granting of subsidized loans to enterprises
up to the total amount of € 15,493 .707,00 with
charged to the State interests, even for previous loans, chapter 2-5-7220. Art.19

The Congress of State, pursuant to Decree 11 February 1988 n. 8, is authorized to
convenzionarsi for 2002, with the institutions providing lending on
confidence up to the total amount of € 154,937.00 with the payment of an || | subsidy borne by the government interests, ven for previous loans, to be charged on the cap. 1-10-5130
. Art.20

The Congress of State is authorized, in accordance with Law 110 of December 15, 1994, in
convenzionarsi for 2002, with the institutions providing the purpose of granting
funding foreseen by this law until with rrenza maximum amount of € 18,075,991.00
with the payment of a subsidy from the State interests, even for loans past
, to be charged on cap.2-8-7450.

Art.21 The Congress of State is authorized to have an agreement for 2002 with the lenders
available for the provision of loans at a subsidized rate referred to in Article 154 of the Law of July 19
1995 n. 87, up to the total amount of € 258,228.00 with the payment of
a subsidy from the State interests, ven for previous loans, to be charged on
cap. 1-8-7465.

Art.22 The Congress of State is authorized to proceed, at year end and on a reasoned proposal from the Office
of the Great and General Council Secretariat, the allocation of funds between chapters 1-1- 1470
"Autonomous Fund for the Regency" 01/01/1480 "Autonomous Fund for the Great and General Council
" and 2-1-6100 "Fund of the Regency Independent of the Great and General Council intended
purchase of assets ".

Art.23 According to Article 5 of Law 20 May 1985 n. 9, as amended by Act 29 January 1987
14, for the financial year 2002, the contribution to be paid to the Council Groups, including headquarters
allowance is set at € 758,505.00 and entered on the chapters 01.01.1450 and 01.01.1460. Art.24

The State Congress has reserved the right to proceed, at year-end and at the proposal of the Juntas
di Castello, the allocation of funds between chapters 1-6-3810 "Checks to Township Councils"
and 2- 6-7280 "Quote Juntas contribution Castle intended for the purchase of assets". Art.25

For the purposes of Article 29 of Law 22 of 24 February 1994, the AASP
is authorized to make available to the Township Councils the sum of € 460,000.00 to be charged on the relevant chapters of the Budget
Company same.
Art.26

A modification of Article 1 of Law 20 December 1990 n. 156, the Congress of State is authorized to disburse
Institute for Social Security for the year 2002 an endowment fund

For health care, to be charged on cap.1-9-4590, the extent maximum of € 46,481,121.00.
The Congress of State is also entitled to transfer to the ISS for the social and health service
for 2002 a budget of € 9.810.00, to be charged on cap.1-9-4610 with || | settlement of any operating deficit recorded by the general Institute report also
with the budget of the State Forecast for the next financial year. Art.27

The flat rate recovery borne ISS related to pensions paid in shares
correlation to the Law March 23, 1927 # 3 referred to in Sec. 1080 is established at 10%
amount recognized on the cap. 03.01.2670 of the general accounts of the State for the financial year preceding
. Art.28

Any charges referred to Decrees 20 May 1996 nn. 48 and 49 for the
2002 financial year are counted against the cap. 01/03/2490 or on the cap toli 03/01/2470 and 01/03/2480. Art.29

The State Congress is given the power, conpropria resolution, to be distributed among the relevant chapters
the allocation referred to cap.1-3-2650 "wage expenses and the total renovation
and economic improvements to employees and pensioners of the State "and to bind
in subsequent years, subject to their destination, the availability unused.

Art.30 The wage cost of civil servants, including the one referring to the competence 2001
should not be increased due to the renewal of the employment contract expired on 31/12/2000. Art.31

And 'he repealed the law 21 November 1990 n.140, whose ppl cation had already been suspended for
the financial years 1999 -2000 -2001.
And 'suspended granting any tax exemption of Law n.44 / 1993 until the
resetting a system of subsidies and loans to businesses. Art.32

The real estate financial lease ended in 1999 with Banca Agricola Commerciale
for the construction of offices in locations Tavolucci Center as amended in 2001
must be completed, except for payment of the early surrender, no later than the financial year 2014 behind || | paid contractually predetermined amount. Art.33

The Company state automaton for Public Service is authorized for 2002 to use
its reserves up to € 5,164,569.00 be allocated to funding of the planned investment
costs, including those related to investments on behalf of the State.
Art.34

10% of proceeds from extraordinary gain from the sale of building land is intended
the power of the commitment referred to Cap.2-8-7451 "Application
extraordinary income from the sale of building land intended for targeted interventions subsidized housing ".
As a result of the provisions of the previous capovers, the breakdown of proceeds extraordinary
set out in Chapter 1137 of the entry "Extraordinary income from the sale of building land
intended for public works of primary importance, to roads and to ambient"
is indicated in the following expense items:
• 01/03/2495 "extraordinary Accrual to the" Reserve "Fund with the proceeds from the sale of building land
";
• 02.03.2404 "Use extraordinary income from the sale of
building land intended for public works of primary importance, all roads and the environment";
• 2-8-7451 "Application of extraordinary income from the sale of
building land intended for interventions of subsidized housing."
The Congress of State is authorized to distribute, through a resolution, the
appropriations referred to cap.2-3-2404.

Art.35 The recording of depreciation relating to tangible and intangible assets
most excellent Room is postponed to the compilation of the economic accounts - Balance
for 2001, to permit completely inventoried the property as well as to evaluate the accounts
the remaining production capacity and / or utilization of many movable
tangible and intangible. Art.36

With reference to Chapter 01/02/2020 "International Solidarity Fund", the Secretary of State for Foreign Affairs
undertook to forward to the end of each year to the Board's
Representations the list of persons who have benefited from this fund and the extent of their respective interventions. Art.37

And 'it allowed the lighting of a mortgage in the 2002 Annual Report of the deficit balance up to €
23,083,564.00. Art.38

This Law shall enter into force on the fifth day following that of its legal publication.
Our Residence, this day of 17 December 2001/1701 dFR


THE CAPTAINS REGENT
.Alberto Cecchetti - Gino Giovagnoli