LAW OF UKRAINE

of January 12, 2012 No. 4318-VI

About modification of the Budget code of Ukraine and some other legal acts of Ukraine

The Verkhovna Rada of Ukraine decides:

І. Make changes to such legal acts of Ukraine:

1. In the Budget code of Ukraine (The sheet of the Verkhovna Rada of Ukraine, 2010, Art. No. 50-51, 572):

1) in Article 16 part one:

in paragraph four of the word "the amount increases" shall be replaced with words "increase in amount is allowed";

in paragraph five of the word "decreases the amount (increases)" shall be replaced with words "reduction (increase) of amount is allowed";

2) in the first offer of part one of Article 17 of the word "in limits, certain" shall be replaced with words "in limits and in the directions which are determined";

3) in Article 23:

a) the seventh to add part with the words "and also by classification of crediting of the budget-concerning loan granting from the budget";

b) in part eight of the word "expense reallocation according to budget programs" shall be replaced with words also in figures "expense reallocation of the budget and loan granting from the budget for budget programs, including budget reserve fund, additional grants and subventions (taking into account part six of Article 102 and part six of article 108 of this Code)";

To add 4) with Article 24-1 of such content:

"Article 24-1. State Regional Development Fund

1. The state Regional Development Fund is created as a part of the general fund of the government budget.

In case of creation of the draft of the Government budget of Ukraine and the forecast of the Government budget of Ukraine for the following for planned two budget periods the state Regional Development Fund is provided in amount at least 1 percent of forecast amount of the income of the general fund of the draft of the Government budget of Ukraine for the corresponding budget period.

2. Funds of the state Regional Development Fund are allocated for accomplishment:

state strategy of regional development and regional development strategies;

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