The Verkhovna Rada intends to amend the Budget Code to implement the agreement with the US on the establishment of the US-Ukrainian Investment Fund for Reconstruction (the agreement on minerals) regarding the allocation of Ukraine's contribution to the fund.
This was announced by Yaroslav Zhelezniak, MP from the Holos faction, in his Telegram channel, Ukrainian News Agency reports.
Bill No. 13256 was voted for with 286 votes, the minimum required 226.
The bill provides for the introduction of a mechanism for transferring revenues from the use of natural resources to a special fund of the state budget of Ukraine for further allocation to the US-Ukrainian Investment Fund for Reconstruction, established in accordance with the agreement with the US government.
In particular, the bill provides for the allocation to the special fund of the state budget:
- 50% of the rent for the use of subsoil for the extraction of minerals;
- 50% of the fee for issuing special permits for the use of subsoil and 50% of the proceeds from the sale of such permits;
- 50% of the proceeds from the use (sale) of the part of the produced products that remains in the ownership of the state in accordance with the production sharing agreements.
The bill provides that revenues from natural resource assets include funds received exclusively from or in connection with the issuance of new licenses or special permits after the entry into force of the Agreement on the Reconstruction Fund for Ukraine, but not earlier than the date of entry into force of the Agreement on Limited Partnership, or revenues received from the exploitation of licenses or special permits issued before the entry into force of the said agreements for Ukraine, but which were not exploited for industrial purposes as of the date of entry into force of the said agreements.
At the same time, it is proposed that the income received from the Reconstruction Investment Fund and income received from russia or its representatives as reparations for the invasion of Ukraine be included in the income of the general fund of the state budget of Ukraine in full.
This law shall enter into force on the date of entry into force of the agreement on the establishment of the American-Ukrainian Reconstruction Investment Fund, but not earlier than the date of entry into force of the agreement between the United States International Development Finance Corporation and the Agency for Public-Private Partnership Support on the establishment of a reconstruction investment fund in the form of a limited partnership.
The Cabinet of Ministers shall, within a month from the date of entry into force of this law, ensure the approval of the procedure for paying contributions to the reconstruction investment fund, opening, if necessary, a new budget program and making changes to the state budget of Ukraine.
As Ukrainian News Agency earlier reported, on May 8, the Verkhovna Rada ratified the agreement with the United States on minerals.
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