FEDERAL LAW OF THE RUSSIAN FEDERATION

of August 2, 2019 No. 278-FZ

About modification of the Budget code of the Russian Federation and separate legal acts of the Russian Federation for the purpose of enhancement of legal regulation of the relations in the field of the state (municipal) borrowings, management of the public (municipal) debt and the state financial assets of the Russian Federation and recognition voided the Federal Law "About Features of Issue and the Address State and Municipal Securities"

Accepted by the State Duma on July 25, 2019

Approved by the Federation Council on July 26, 2019

Article 1

Bring in the Budget code of the Russian Federation (The Russian Federation Code, 1998, No. 31, Art. 3823; 2000, No. 32, Art. 3339; 2003, No. 52, Art. 5036; 2004, No. 34, Art. 3535; No. 52, Art. 5278; 2005, No. 1, Art. 8, 21; No. 42, Art. 4214; No. 52, Art. 5589; 2006, No. 1, Art. 8; 2007, No. 18, Art. 2117; No. 45, Art. 5424; 2008, No. 29, Art. 3418; No. 30, Art. 3597; No. 48, Art. 5500; 2009, No. 1, Art. 18; No. 15, Art. 1780; No. 29, Art. 3629; No. 48, Art. 5733; No. 51, Art. 6151; 2010, No. 19, Art. 2291; No. 31, Art. 4185, 4192; No. 40, Art. 4971; No. 49, Art. 6409; 2011, No. 15, Art. 2041; No. 41, Art. 5635; No. 49, Art. 7030; 2012, No. 47, Art. 6400; No. 50, Art. 6967; No. 53, Art. 7593; 2013, No. 19, Art. 2331; No. 27, Art. 3480; No. 31, Art. 4191; No. 52, Art. 6983; 2014, No. 26, Art. 3389; No. 30, Art. 4267; No. 40, Art. 5314; No. 43, Art. 5795; No. 48, Art. 6656, 6664; No. 52, Art. 7560; 2015, No. 29, Art. 4343; No. 40, Art. 5468; No. 51, Art. 7252; 2016, No. 1, Art. 26; No. 7, Art. 911; No. 26, Art. 3861; No. 27, Art. 4162, 4278, 4279; No. 49, Art. 6852; 2017; No. 14, Art. 2007; No. 30, Art. 4452, 4458; No. 31, Art. 4811; No. 40, Art. 5751, 5752; No. 47, Art. 6841; No. 49, Art. 7317; 2018, No. 1, Art. 18; No. 24, Art. 3409; No. 30, Art. 4557; No. 32, Art. 5121; No. 41, Art. 6191; No. 49, Art. 7495, 7525, 7528, 7529; No. 53, Art. 8420, 8430) following changes:

The second Item 1 of Article 1 of the word of "the state and municipal borrowings" shall be replaced with words 1) in the paragraph "the state (municipal) borrowings", shall be replaced with words words of "the public and municipal debt" "the public (municipal) debt";

2) in Article 6:

a) in the paragraph the fourteenth "(borrowing)" and the word of "(borrowing)" to exclude the word;

b) in the paragraph the seventeenth the words "public or municipal debt" shall be replaced with words "the public (municipal) debt", shall be replaced with words words of "the state or municipal borrowings" "the state (municipal) borrowings";

c) the eighteenth to state the paragraph in the following edition:

"the public (municipal) internal debt - the debt obligations of public legal entity arising in currency of the Russian Federation;";

d) the nineteenth to state the paragraph in the following edition:

"the public (municipal) external debt - the debt obligations of public legal entity arising in foreign currency;";

e) add with paragraphs of the following content:

"debt stability - the condition, structure and outstanding amount allowing the borrower to fulfill in full obligations on repayment and servicing of this debt, the excluding causing damage to social and economic development and need of its write-off and (or) restructuring;

monetary commitments before public legal entity - obligation of the debtor to pay to public legal entity money according to the civil transaction (including providing obligation fulfillment) and (or) to other basis established by the civil or budget legislation, evolved in connection with provision by public legal entity returnable and paid (returnable) from money (including in connection with attraction of the purpose-oriented foreign loans) or in connection with provision and (or) execution of the state (municipal) guarantee (including obligation on interest payment, penalties (penalty fee, penalties), other payments established by the law and (or) the agreement owing to unjust enrichment, causing losses, non-execution or improper execution of obligations, concession or transition on other bases of rights to claim, presentations of recourse requirements).";

3) in the subitem 13 of Item 3 of Article 21:

a) in paragraph one of the word "and municipal" to replace with the word of "(municipal)";

b) in the paragraph the second "internal and municipal" shall be replaced with words words "(municipal) internal";

c) third after the word "state" to add the paragraph with the word of "(municipal)";

4) in Item 3 of Article 23:

a) in subitem 1:

in paragraph four of the word "from others" shall be replaced with words "from others";

add with the new paragraph the sixth the following content:

"the credits of foreign banks in currency of the Russian Federation;";

to consider paragraphs of the sixth and seventh respectively paragraphs the seventh and eighth;

b) in subitem 2:

in paragraph three to exclude the word of "(borrowing)";

add with the new paragraph the fifth the following content:

"the budget credits in foreign currency granted by the Russian Federation within use of the purpose-oriented foreign loans;";

the fifth to consider the paragraph the paragraph the sixth;

Article 35 in paragraph three the word of "(borrowings)" to exclude 5);

Item 6 of Article 47.2 to add 6) with words ", on monetary commitments before public legal entity";

7) in Article 93.2:

a) in Item 1:

word in paragraph four", including to foreign legal entities," and words" (borrowings), in case of restructuring of obligations (debt) of legal entities on earlier obtained budget credits, in the cases established by Chapter 15 of this Code" to exclude;

in paragraph five to exclude the word of "(borrowings)";

word in paragraph seven", to foreign legal entities" to exclude;

b) in paragraph one of Item 2 of the word" if other is not provided by this Code or the relevant laws (decisions) on the budget," to exclude;

c) in Item 3:

in the paragraph the second to replace the words "or municipal" with the word "(municipal)", shall be replaced with words the word "liquidities" "reliability (liquidity)";

third to state the paragraph in the following edition:

"Acceptance as ensuring obligation fulfillment of the borrower is not allowed:";

add with new paragraphs the fourth - the sixth the following content:

"the state guarantees of foreign states, the state (municipal) guarantees of the public legal entities having the overdue (not settled) debt on monetary commitments to the public legal entity granting budget credit;

bank guarantees and guarantees of the legal entities having the overdue (not settled) debt on monetary commitments to the public legal entity granting budget credit, and unexecuted obligation on tax payment, charges, the insurance premiums, penalty fee, penalties, percent which are subject to payment in accordance with the legislation of the Russian Federation about taxes and fees;

bank guarantees and guarantees of legal entities which net assets value is less than the size, the provided bank guarantee (the provided guarantee) constituting the triple amount, legal entities concerning whom insolvency proceedings (bankruptcy), legal entities who are in process of reorganization or liquidation are initiated.";

the fourth to consider the paragraph the paragraph the seventh and to state it in the following edition:

"Assessment of market value (with conclusions about liquidity) the property pledged is performed in accordance with the legislation of the Russian Federation about estimative activities based on the contract for evaluating signed with the estimative company. Assessment of the pledged property is performed by the appraiser who is on the staff of the specified estimative company (signed the employment contract with the specified estimative company). The pledged property shall be free from the rights to it of the third parties, including shall not be pledge subject of other agreements. Acceptance as proof of property which the pledger will acquire in the future and also the subsequent pledge of the property pledged to the public legal entity granting budget credit is not allowed.";

the fifth to consider the paragraph the paragraph the eighth and to state it in the following edition:

"Assessment of reliability of the bank guarantee, guarantee is performed according to acts of the Government of the Russian Federation, the supreme executive body of the government of the subject of the Russian Federation, local administration respectively the Ministry of Finance of the Russian Federation, financial body of the subject of the Russian Federation, financial body of the municipality or according to their order the authorized person specified in Item 5 of this Article.";

to consider paragraphs of the sixth and seventh respectively paragraphs the ninth and tenth;

d) in Item 8 of the word "authorized bodies (persons)" shall be replaced with words "the bodies specified in item 4 of this Article or for their order authorized persons";

e) recognize Items 10 and 11 invalid;

e) Item 12 after the word of "agreements" to add with the words "and also rules (the bases, procedure and conditions) write-offs and recoveries in accounting of debt of physical persons on monetary commitments to the Russian Federation";

8) in paragraph one of Item 1 of Article 93.3 to exclude the word of "(borrowings)";

9) in Article 93.4:

a) in Item 3:

word in paragraph one of "legal entities, subjects of the Russian Federation and municipalities" to exclude;

add paragraph two with words ", attracted according to the Federal Law on the federal budget for the corresponding financial year and planning period";

b) in the paragraph the second item 4 to exclude the word of "(borrowings)";

10) in Article 93.5:

a) in the name to exclude the word of "(borrowings)";

b) in Item 1 to exclude the word of "(borrowings)";

c) in Item 3 to exclude the word of "(borrowings)", the word "conditions" to replace with the word "provisions";

To add 11) with Articles 93.7 and 93.8 of the following content:

"Article 93.7. Monetary commitments before public legal entity

1. Debt on monetary commitments to public legal entity is the cash amount which the debtor shall pay according to monetary commitment before public legal entity for certain date.

2. Requirements for monetary commitments before public legal entity create financial assets of public legal entity.

3. Rules (the bases, conditions and procedure) of write-off and recovery in accounting of debt on monetary commitments to public legal entity are established by the relevant financial bodies, except as specified, provided by this Code.

4. Accounting of monetary commitments (debt on monetary commitments) to public legal entity and the transactions providing execution of such obligations, and also realization of rights to claim according to the specified obligations and transactions is performed by the relevant organ specified in item 4 of Article 93.2 of this Code or the authorized person specified in Item 5 of Article 93.2 of this Code.

5. If other is not established by the agreement, monetary commitments before public legal entity are considered performed from the date of transfer of the corresponding cash amount on the single budget account of public legal entity.

6. Provisions of this Article are applied to external debt requirements of the Russian Federation in the part which is not contradicting Chapter 15 of this Code.

7. Obligation on return of the loans granted by Vneshtorgbank of the USSR and Vnesheconombank of the USSR till 1992 inclusive and other obligations on payment of money connected with provision of the specified credits are monetary commitments in front of the Russian Federation.

Article 93.8. Restructuring of monetary commitments before public legal entity and different ways of settlement of debt on them

1. Monetary commitments (debt on monetary commitments) to public legal entity can be settled by the following methods:

1) based on the agreement the change of conditions of execution of monetary commitment (debt repayment on it) connected with change of terms (including with provision of delay or payment by installments) execution of monetary commitment (debt repayment on it), change of size of interest for using money and (or) other payments (further - restructuring of monetary commitment (debt on monetary commitment) to public legal entity);

2) the termination of the initial obligation based on the agreement with replacement with its other obligation between the same persons providing other subject or method of execution (further - monetary commitment innovation before public legal entity);

3) the different ways provided by the budget and (or) civil legislation of the Russian Federation.

2. Opportunity, methods and the main conditions of settlement of monetary commitments (debt on monetary commitments) to public legal entity are established by the law (decision) on the budget.

3. Rules (the bases, conditions and procedure) of restructuring of monetary commitments (debts on monetary commitments) to public legal entity are established respectively by acts of the Government of the Russian Federation, the supreme executive body of the government of the subject of the Russian Federation, local administration or the financial bodies of the corresponding public legal entity authorized by them which have the right to establish additional terms of restructuring of monetary commitments (debt on monetary commitments) to the corresponding public legal entity, including criteria to which there shall correspond debtors having the right to restructuring of monetary commitments (debt on monetary commitments) to public legal entity.

4. According to the procedure and cases which are stipulated by the legislation the Russian Federation about legal proceedings about enforcement proceeding and about insolvency (bankruptcy), financial bodies have the right to make decisions on the conclusion of voluntary settlements which establish conditions of settlement of debt on monetary commitments to the corresponding public legal entity by the methods provided by the law (decision) on the budget.

5. Restructuring of monetary commitment (debt on monetary commitment) to public legal entity, and also the monetary commitment innovation before public legal entity attracting emergence of new monetary commitment before public legal entity is performed with observance of the requirements established by this Code concerning budget credits, except for conditions (requirement) about absence at the debtor of the overdue (not settled) debt on monetary commitments to the creditor - the corresponding public legal entity, unexecuted obligation on tax payment, charges, the insurance premiums, penalty fee, penalties, percent which are subject to payment in accordance with the legislation of the Russian Federation about taxes and fees.

6. On the re-structured monetary commitments before public legal entity, and also regulations of this Code on monetary commitments before public legal entity extend to the monetary commitments before public legal entity which resulted from innovation of monetary commitments before public legal entity.

7. Provisions of this Article are applied to external debt requirements of the Russian Federation in the part which is not contradicting Chapter 15 of this Code.";

12) in Article 94:

a) in Item 1:

in paragraph three "received" to replace the word with the word "attracted";

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