Chamber of Deputies approves public trust project in first reading

Santo Domingo -The Chamber of Deputies released the paperwork, reading and debates, and approved in first reading the bill on public trust, which was reintroduced in that body a few days ago after perishing in the last ordinary legislature.

The blocks of the Dominican Liberation Party (PLD) and Fuerza del Pueblo (FP) did not support the piece, which managed to be sanctioned in the third voting attempt with 94 yeses, two noes and 64 abstentions.

In the first attempt, the legal regulations obtained 88 votes in favor, two against, and 52 abstentions; in the second, it had 90 votes in favor, one against, and 56 abstentions.

The bill, whose proponents are the deputies Amado Antonio Díaz Jiménez, Francisco Antonio Solimán Rijo and Rosendy Joel Polanco Polanco, is the same one that was approved by the Lower House in the last ordinary legislature and expired.

The Permanent Finance Commission of the Senate is also in charge of the initiative, reintroduced by congressmen Ramón Rogelio Genao and Alexis Victoria Yeb.

The legislation is intended to regulate the public trust and establish its organization, structure and operation.

Among the specific objectives of the piece of legislation, it is worth mentioning establishing the legal capacity to administer public resources and provide, manage or execute works and infrastructure projects or services of collective interest; and establish norms and requirements so that any authorized public entity can act as settlor, beneficiary or beneficiary.

Another specific purpose is to establish regulations for the operation of the public trust at the time of its constitution, during its existence and at the time of termination, from the legal, accounting, financial, administrative and accountability perspectives.

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