LAW OF THE REPUBLIC OF ARMENIA

of December 23, 1998 No. ZR-262

About financial equalization

Accepted by National Assembly of the Republic of Armenia on November 24, 1998

Article 1. Legislation on financial equalization

Financial equalization is regulated by the laws of the Republic of Armenia, and in the cases provided by the law and other legal acts.

Article 2. Law tasks

This Law determines concept and the principles of financial equalization, procedure for calculation and allocation from the government budget to local authority budgets of the grants provided by the principle of equalization (further - grants).

Article 3. Concept of financial equalization

Financial equalization - reduction of difference between financial opportunities of municipalities for implementation by local government bodies of the powers established by the law for the purpose of ensuring harmonious development of municipalities.

Article 4. Grants

1. For the purpose of ensuring harmonious development of municipalities grants are selected to them.

2. The minimum size of total amount of grants is established by the law.

3. Distribution of total amount of grants on separate municipalities according to the procedure, established by this Law, affirms the law of the Republic of Armenia on the government budget of the Republic of Armenia.

Article 5. The factors pledged in basis of calculation of grants

The size of the amounts of grants is estimated under budgets of separate municipalities, differentiating the last:

1. On municipalities with the population no more than 300 people.

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