Legal conditions limiting fundraising capabilities of local self-government units. Status and original propositions concerning introduction of changes together with Bank Gospodarstwa Krajowego
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RIS BIB ENDNOTELegal conditions limiting fundraising capabilities of local self-government units. Status and original propositions concerning introduction of changes together with Bank Gospodarstwa Krajowego
Publication date: 10.09.2018
Financial Law Review, 2017, Issue 7 (3)/2017, pp. 48 - 60
https://doi.org/10.4467/22996834FLR.17.013.10331Authors
Legal conditions limiting fundraising capabilities of local self-government units. Status and original propositions concerning introduction of changes together with Bank Gospodarstwa Krajowego
Reintroducing local self-governments in Poland was unquestionably a proper and necessary step in the transformation of the political and government system. Closing the civilization gap in municipal infrastructure will require a higher level of debt in local self-government units. Therefore, in practice efficient development of local self-government units in the future is affected by amendments to legal provisions related to the capacity and level of debt. Despite their need for funding of infrastructure investments, local self-government units rarely take advantage of public-private partnership. The Author of this paper believes that the perception of local public debt in Poland constitutes the justification of feasibility and necessity of implementing systemic changes, especially regarding limitations of local public debt. The purpose of this paper is to show the problems, which are caused by barriers related to limiting or assuming obligations or increasing fund management efficiency of local self-government units. Accepting solutions proposed by the Author would have a positive impact on the public finance sector, including the state budget and budgets of local self-government units. Such activities may therefore provide consolidation within one entity (Bank Gospodarstwa Krajowego) of management of bank accounts of local self-government units and increase of the capacity to raise funds, especially for infrastructure investments. Consolidation would have positive influence on short-term liquidity of local self-government units, while elimination of „qualitative” limitations and amendment of classification of expenses related to partially financing the PPP programme fees, would be more important in case of long-term fundraising for performing investment projects.
The Tax code of the Russian Federation. Part one from July, 31st, 1998 №146-the Federal law: accepted by the State Duma of the Federal assembly of the Russian Federation on July, 16th, 1998: approved by the Federation Council of the Federal assembly of the Russian Federation on July, 17th, 1998// Rossiiskaya Gazeta – 1998. – on August, 6th. – №148–149. Collection of Legislative Acts of the Russian Federation. – 1998. – №31. – Article 3824.
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About modification of a part one of the Tax code of the Russian Federation and separate legislative acts of the Russian Federation: the Federal law from December, 29th, 2009 № 383-the Federal law: accepted by the State Duma of the Federation Council of the Russian Federation on December, 23rd, 2009: approved by the Federal assembly of the Russian Federation on December, 25th, 2009// Rossiiskaya Gazeta – 2009. – on December, 31st. – №255. Collection of Legislative Acts of the Russian Federation. – 2010. – №1. – Article 4.
About modification of the Code of the Russian Federation about administrative offences: the Federal law from December, 6th, 2011 № 404-the Federal law: accepted by the State Duma of the Federation Council of the Russian Federation on November, 22nd, 2011: approved by the Federal assembly of the Russian Federation on November, 29th, 2011// Parlamentskaya Gazeta – 2001. – on December, 9–15th. – №54. Rossiiskaya Gazeta – 2011. – on December, 10th. – №278. Collection of Legislative Acts of the Russian Federation. – 2011. – №50. – Article 7346.
Information: Financial Law Review, 2017, Issue 7 (3)/2017, pp. 48 - 60
Article type: Original article
Katedra Systemów Finansowych Gospodarki, Zakład Bankowości i Rynków Pieniężnych, Wydział Zarządzania Uniwersytetu Warszawskiego
Published at: 10.09.2018
Article status: Open
Licence: CC BY
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English