Congress overturns veto on Simple Nacional debt renegotiation

Congress approves transfer of BRL 7.7 billion to states and municipalities

Congress approved this Thursday (28) a bill that opens a special credit of R$ 7.676 billion for transfer to states and municipalities. The funds come from auctions of surplus volumes from Petrobras’ transfer of rights in pre-salt areas. The proposal goes to presidential sanction.Congress approves transfer of BRL 7.7 billion to states and municipalities

Of the total resources, R$ 3.489 billion will be allocated to states and R$ 3.489 billion to municipalities. The remaining R$ 698 million will be transferred to the producing states, which border the area of ​​the deposits.

The legislation limits the application of funds received by states and municipalities for social security or investment expenses. Social security expenses are not limited to the entity, but also to all public and private legal entities that are part of its direct or indirect administration.

Investments are subject to the reserve for payment of expenses with social security funds and social contributions, in addition to the payment of social security debts in installments until the end of the mayor’s or governor’s term of office.

* With information from the Câmara de Notícias Agency

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