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    **ON AMENDMENTS TO THE BUDGET CODE OF UKRAINE REGARDING THE IMPLEMENTATION OF THE AGREEMENT BETWEEN THE GOVERNMENT OF UKRAINE AND THE GOVERNMENT OF THE UNITED STATES OF AMERICA ON ESTABLISHING THE AMERICAN-UKRAINIAN INVESTMENT RECONSTRUCTION FUND**

    Good day! Here is a brief overview of the provisions of this Law:

    1. **Essence of the Law:** The Law amends the Budget Code of Ukraine to implement the Agreement between the Government of Ukraine and the Government of the United States of America on the establishment of the American-Ukrainian Investment Fund for Reconstruction. It defines the specifics of the distribution of income from the use of natural resources, in particular those involved in the fund’s activities, and establishes the procedure for paying contributions to this fund.

    2. **Structure and main provisions:**

    * The Law introduces amendments to Articles 2, 29, 30, 64, 66, 67-1 and 71 of the Budget Code of Ukraine.
    * It defines the term “Natural Resource Assets” and establishes which revenues are considered to be related to these assets.
    * The Law changes the distribution of rent for the use of mineral resources, fees for the issuance of special permits and funds from the distribution of products produced under product sharing agreements, in particular for assets involved in the fund’s activities.
    * It provides for the payment of a contribution to the American-Ukrainian Investment Fund for Reconstruction from defined sources.
    * The Law also defines the procedure for crediting income received from the fund and reparations from the Russian Federation to the general fund of the State Budget of Ukraine.

    3. **Key provisions for use:**

    * The definition of “Natural Resource Assets” is key to understanding which revenues are subject to the new distribution rules.
    * Changes in the distribution of rent and other payments for the use of mineral resources affect the formation of revenues of the state and local budgets.
    * The procedure for paying contributions to the reconstruction fund, which is to be established by the Cabinet of Ministers of Ukraine, is important for the practical implementation of the provisions of the law.
    * The provisions on crediting income from the fund and reparations to the general fund of the state budget determine the directions of use of these funds.

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