Regulatory Alerts2024-09-27 | DOF 5739828Added
Decree Reforming, Adding and Repealing Various Provisions of the Regulations of the Federal Budget and Financial Responsibility Law
The decree amends Articles 12, 12 B, and 283 A, and repeals Section I of Article 11 D of the Regulations of the Federal Budget and Financial Responsibility Law. It establishes that advances from excess revenues for stabilization funds must be calculated based on public finance projections within 20 business days after the second quarter report and again by the last business day of the year, with prior compensation using oil or non-oil excess revenues if necessary. Any surplus generated by the first-half advance is to be returned to the Federal Budget within 10 business days without considering updates or financial yields. Additionally, it clarifies that net amounts may be reflected in budget records to avoid duplication and specifies that Mexican Petroleum Fund resources are determined by its Technical Committee while excess resources are determined by the Secretariat.
DOF: 27/09/2024
DECREE reforming, adding and repealing various provisions of the Regulations of the Federal Budget and Financial Responsibility Law
A seal bearing the National Emblem appears at the margin, which reads: United Mexican States.- Presidency of the Republic.
ANDRÉS MANUEL LÓPEZ OBRADOR, President of the United Mexican States, exercising the authority granted to me by Article 89, Section I, of the Political Constitution of the United Mexican States, and pursuant to Articles 31 and 37 of the Organic Law of the Federal Public Administration, and Articles 17; 19, Sections I, IV and V; 87; 93, and 107 of the Federal Budget and Financial Responsibility Law, have deemed it appropriate to issue the following
DECREE REFORMING, ADDING AND REPEALING VARIOUS PROVISIONS OF THE REGULATIONS OF THE FEDERAL BUDGET AND FINANCIAL RESPONSIBILITY LAW
SINGLE ARTICLE.- Articles 12, first paragraph and current second paragraph; 12 B, first paragraph, and 283 A are REFORMED; a second paragraph is ADDED to Article 12, moving the current second through sixteenth paragraphs to become the third through seventeenth paragraphs, and Section I of Article 11 D of the Regulations of the Federal Budget and Financial Responsibility Law is REPEALED, to read as follows:
Article 11 D. ...
I. Repealed.
II . ...
Article 12.
As an advance against the annual amount of excess revenues corresponding to contributions to the Stabilization Fund for State Revenues, the Stabilization Fund for Budgetary Revenues, and the Mexican Petroleum Fund, referred to in Articles 19, Sections IV, subsections a and c and V, and 93 of the Law, an advance shall be made during the first semester of each year, based on the public finance projection prepared by the Secretariat, within the 20 business days following the delivery of the corresponding quarterly reports for the second quarter, and another advance, no later than the last business day of the year, once the Secretariat, based on preliminary figures for November and the estimate of the annual closing of public finances, calculates the annual excess resources.
Prior to the delivery of said advances, the Secretariat shall carry out the compensations referred to in Articles 19, Section I and 21, Section I of the Law, charged against oil excess revenues and, in case these were insufficient, charged against non-oil excess revenues.
In the event that the first-semester advance generates a balance in favor of the Federation in any of the funds indicated in the first paragraph of this article, the trustee, upon instructions from the Technical Committee, shall pay that amount to the Federal Government under the concept of reimbursement, to the Expenditure Budget. For the determination of this reimbursement, updates or financial yields shall not be considered. Said reimbursement shall be made no later than 10 business days following the determination of the balance in favor.
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Article 12 B.
The resources of the Mexican Petroleum Fund referred to in Article 93, third paragraph, of the Law must be determined by the Technical Committee of said Fund, and the excess resources that the Fund receives during the fiscal exercise must be determined by the Secretariat.
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Article 283 A.
For purposes of consolidating public spending and preparing reports, in the case of budgetary records that imply duplication thereof, the Secretariat may reflect net amounts in the corresponding concepts, as well as the net amount for the concept of interest derived from the financial cost of public debt and public debt hedging operations.
TRANSITORY
UNIQUE. This Decree enters into force the day following its publication in the Official Gazette of the Federation.
Given at the residence of the Federal Executive Power, in Mexico City on September 25, 2024.- Andrés Manuel López Obrador.- Signature.- The Secretary of Finance and Public Credit, Rogelio Eduardo Ramírez de la O.- Signature.- The Secretary of the Public Function, Roberto Salcedo Aquino.- Signature.
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