The State Duma adopted in the second reading a draft on the regulation of subsidies to companies

06 July 2017, 08:20 | Russia
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"Rossiyskaya Gazeta" informs that the State Duma adopted in the second reading a bill that determines the procedure for granting state corporations and public law companies subsidies from the federal budget. In particular, it is prohibited to purchase foreign currency - except for the purchase of high-tech equipment.

It is reported that instead of contributions to the authorized capital of state corporations and state companies, public companies will receive subsidies. They can be presented in the form of a property contribution.

The purposes of granting state funds - for realization of capital investments in capital construction objects are described; For the acquisition by them of immovable property or for the provision of contributions to the authorized capitals of subsidiaries. It is noted that subsidies can also be submitted for exercising state powers conferred on state corporations by federal laws.

The second reading also included the reconstruction of highways of federal significance.

The document states that the mandatory condition for granting subsidies will be compliance by companies with the requirements of the law on the contract system in the field of public procurement, as well as the absence of tax arrears. The received funds are prohibited from purchasing foreign currency, except for the purchase of high-tech imported equipment.

It is emphasized that in case of violation by the state corporation of the goals, conditions and procedure for granting the subsidy, the corresponding funds are subject to return to the federal budget.

The bill also introduces a ban for regions that have received loans from the federal budget to place these funds on bank deposits for a period exceeding one month.




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