LAW TO ENCOURAGE ECONOMIC DEVELOPMENT IN THE REGION DEBATED IN YAROSLAVL








MOSCOW, MARCH 13, 2001. /RIA Novosti correspondent/. The authorities of Yaroslavl (Central Russia) are going to adopt a law on encouraging economic development in the region, representatives of the working group to elaborate this draft law  reported.


	The draft law "On Encouraging Economic Development of Yaroslavl Region" stipulates a number of measures to encourage enterprises engaged, specifically, in implementing the profit tax plan. The draft law envisages that 80 percent of the profit tax due to the state will be returned to enterprises in the form of subsidies for development. According to preliminary estimates, subsidies in 2001 will amount to 40 million rubles (1$ is equal to about 28.5 rubles).


	The draft law was adopted in the first reading at the regional Duma session last January. However, the Duma's permanent commission for economic policy and activity refused to approve it. Nevertheless, members of the working group expressed their confidence that the draft law on encouraging economic development in the region will eventually be passed by the regional Duma and signed by the governor.