LAW OF UKRAINE

of June 4, 2020 No. 677-IX

About modification of the Budget code of Ukraine

The Verkhovna Rada of Ukraine decides:

I. Bring in the Budget code of Ukraine (Sheets of the Verkhovna Rada of Ukraine, 2010, Art. No. 50-51, 572) the following changes:

1. In part one Item 47-1 of Article 2, in paragraph one of part one and the paragraph the second the word "standard" to exclude Article 48 parts two.

2. The paragraph one of part three of Article 16 to state in the following edition:

"3. The Verkhovna Rada of the Autonomous Republic of Crimea, regional and city councils have the right to perform local internal borrowings (except as specified, stipulated in Article 73 of this Code)".

3. To state Item of 1 part two of Article 71 in the following edition:

"1) repayments of local debt, including at the expense of subvention from the government budget to local budgets on financial provision of construction, reconstruction, repair and content of highways public of local value, streets it is also expensive to utility property in settlements".

4. In Article 74 part five "external" to exclude the word.

5. To state paragraph two of part two of Article 103-1 in the following edition:

"90 percent of total amount of subvention are distributed between the corresponding local budgets (except city budget of Kiev) depending on the extent of highways public of local value in the corresponding administrative and territorial unit as of January 1 of the year preceding planned. The specified funds can be allocated for construction, reconstruction, repair and content of streets and is expensive to utility property in settlements in the amount of no more than 20 percent of the amount of such subvention approved by the law on the Government budget of Ukraine for the corresponding local budget and also on repayment and servicing of local debt on the local borrowings involved to accomplishment of repair construction works on highways public of local value and utility property in the amount of no more than 30 percent of the amount of such subvention approved by the law on the Government budget of Ukraine for the corresponding local budget. Amounts and the directions of use of means due to such local borrowings affirm the relevant regional public administration with the subsequent approval of Committee of the Verkhovna Rada of Ukraine concerning the budget".

II. Final provisions

1. This Law becomes effective from the date of, its publication following behind day.

2. Make changes to such laws of Ukraine:

1) in the Law of Ukraine "About sources of financing of road economy of Ukraine" (Sheets of the Verkhovna Rada of Ukraine, 1998, No. 14, Art. 60 with subsequent changes):

a) in Article 3 part four:

to add Item 1 after the words "creation and functioning of information and analytical system of road economy" with the words "including content of the relevant budgetary institutions providing its functioning";

to state paragraph two of Item 2 in the following edition:

"This subvention can go to construction, reconstruction, repair and content of streets and is expensive to utility property in settlements in the amount of no more than 20 percent of the amount of such subvention approved by the law on the Government budget of Ukraine for the corresponding year for the corresponding local budget and also on repayment and servicing of local debt on the local internal and external borrowings involved to accomplishment of repair construction works on highways public of local value and utility property in the amount of no more than 30 percent of the amount of such subvention approved by the law on the Government budget of Ukraine for the corresponding year for the corresponding local budget";

b) the third and fourth Article 4 to state parts in the following edition:

"The revenues of these funds are created at the expense of subvention of the Government budget of Ukraine to local budgets on financing of construction, reconstruction, repair and content of highways public of local value, streets and are expensive to utility property in settlements, other receipts in the relevant budgets (including local internal and external borrowings) which are determined by decisions of the Verkhovna Rada of the Autonomous Republic of Crimea, regional, city, settlement and village councils on budgets for the corresponding year, and also the corresponding receipts determined by article 5 of this Law.

Funds of territorial road funds are allocated for construction, reconstruction, repair and content of highways public of local value, streets and roads in the settlements relating to utility property on repayment and servicing of local debt on the local internal and external borrowings involved to accomplishment of repair construction works on highways and also for needs of road economy in the directions determined respectively by the Verkhovna Rada of the Autonomous Republic of Crimea, regional, city, settlement and village councils";

5 parts three of article 43 of the Law of Ukraine "About local self-government in Ukraine" (Sheets of the Verkhovna Rada of Ukraine, 1997, No. 24, Art. 170 with subsequent changes) the word "external" to exclude 2) in Item.

3. To the Cabinet of Ministers of Ukraine in two-month time from the date of publication of this Law:

bring the regulatory legal acts into accord with this Law;

provide reduction by the ministries and other central executive bodies of their regulatory legal acts in compliance with this Law.

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