Regulatory Alerts2024-04-17 | DOF 5723621Added
Decree adding provisions to the Federal Budget and Fiscal Responsibility Law
The decree adds Article 21 Bis, fraction V Bis, to the Federal Budget and Fiscal Responsibility Law, allowing the Secretariat to make additional contributions of financial assets or credit instruments to the Budgetary Revenue Stabilization Fund, provided Article 17 is met, while excluding social security worker contributions from being considered federal government financial assets. It also adds a final paragraph to Article 23, permitting budgetary adjustments to direct savings or economies in the federal government's debt financial costs to the Budgetary Revenue Stabilization Fund. The decree enters into force the day after its publication, requiring the Federal Executive to amend the law's regulations within 90 days and to modify the fund's operating rules and trust agreement within 90 days following the regulation amendments.
DOF: 17/04/2024
DECRETE adding various provisions to the Federal Budget and Fiscal Responsibility Law
A seal with the National Emblem, which reads: United Mexican States.- Presidency of the Republic.
ANDRÉS MANUEL LÓPEZ OBRADOR, President of the United Mexican States, to its inhabitants be it known:
That the Honorable Congress of the Union has seen fit to address to me the following
DECRETE
"THE GENERAL CONGRESS OF THE UNITED MEXICAN STATES, DECREES:
VARIOUS PROVISIONS OF THE FEDERAL BUDGET AND FISCAL RESPONSIBILITY LAW ARE ADDED
Sole Article. Articles 21 Bis, with a fraction V Bis, and 23, with a final paragraph, of the Federal Budget and Fiscal Responsibility Law are added, to read as follows:
Article 21 Bis.- ...
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V Bis.
Regarding the Budgetary Revenue Stabilization Fund, the Secretariat may make additional contributions of financial assets or credit instruments from the Federal Government, provided that what is stated in Article 17 of this Law is complied with.
For the purposes of the provisions of the preceding paragraph, and in terms of the applicable legal provisions, the resources of the Funds established for the administration, management and use of the social security contributions of the workers, shall not be considered financial assets of the Federal Government;
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VIII.
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Article 23.- ...
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In the event that during the corresponding fiscal year a saving or budgetary economies in the financial cost of the Federal Government's debt arises, the corresponding budgetary adjustments may be made to allocate said saving or economies to the Budgetary Revenue Stabilization Fund, as determined by the Secretariat.
Transitory Provisions
First.- This Decree shall enter into force the day following its publication in the Official Gazette of the Federation.
Second.- The Federal Executive shall carry out the necessary reforms to the Regulations of the Federal Budget and Fiscal Responsibility Law in accordance with what is provided in this Decree, within the 90 natural days following the entry into force of this Decree.
Third.- The Federal Executive, through the Secretariat of Finance and Public Credit, shall carry out the necessary modifications to the operating rules of the Budgetary Revenue Stabilization Fund and to the Trust Agreement constituted for the administration of the resources contributed to said Fund, within the 90 natural days following the entry into force of the reforms to the Regulations of the Federal Budget and Fiscal Responsibility Law referred to in the Second Transitory Provision of this Decree.
Mexico City, March 13, 2024.- Sen. Ana Lilia Rivera Rivera, President.- Dip. Marcela Guerra Castillo, President.- Sen. Verónica Noemí Camino Farjat, Secretary.- Dip. Pedro Vázquez González, Secretary.- Signatures. "
In compliance with what is established in fraction I of Article 89 of the Political Constitution of the United Mexican States, and for its proper publication and observance, I issue this Decree at the Residence of the Federal Executive Power, in Mexico City, on April 12, 2024.- Andrés Manuel López Obrador.- Signature.- The Secretary of the Interior, Luisa María Alcalde Luján.- Signature.
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