The parliament adopted a draft law on establishment of a Road Fund on Thursday, November 17. The draft law No. 4014a was adopted at a second reading by 248 votes, with only 226 votes required to adopt it.
According to the head of the parliament's transport committee, Yaroslav Dubnevych, parliamentary deputies proposed a total of 63 amendments to the document during its second reading, of which the committee fully accepted 35 and partially accepted five.
According to Dubnevych, the current version of the draft law stipulates that the Road Fund will be created on 1 January 2018, compared with 2017 in the previous version.
Fifty percent of all the revenue from the excise tax on fuel and other sources will be transferred into the Road Fund in year 2018, 75% in 2019, and 100% in 2020.
In addition, the parliament adopted the draft law No. 4015a on amendment of the Budget Code, which is necessary for the operations of the Road Fund. The Road Fund will be created as part of the Special Fund of the state budget of Ukraine. The Ministry of Infrastructure will be the main manager of the Road Fund.
As reported, the parliament has attempted several times to pass the draft law on Road Fund but failed. The document received only 140 votes in February 2016 and 178 votes in March. A new draft law (No. 4014a) was considered and approved in its first reading in October.
