Bill to create a public fund to help social nonprofits

Automatic summary, not yet reviewed

1. The bill would create the Fund for the Restructuring of Nonprofit Entities of the Third Sector (FRETS). Private nonprofits working in activities of general interest could receive aid if they meet the definition in the bill itself.
2. The Fund would be financed through the General State Budgets, with 100 million euros the first year. In later years, ownerless assets, abandoned deposits, unclaimed insurance payments and similar resources ending up in State hands would be added.
3. The money would be distributed among the Autonomous Communities based on the number of entities in each one, and they would manage and grant it. Small or medium entities struggling to get funding, mergers between entities, and projects with viability plans would have priority.
4. The Fund could also cover up to 30% of losses an entity accumulated over the last three fiscal years, if it presents a viability plan. In addition, the Government would have to promote social venture capital using part of ENISA's funds.

Who it affects

• Nonprofit entities of the social Third Sector: Could receive aid from the Fund for their viability, investments or new projects.
• Autonomous Communities: Would manage, grant and pay out the funds to entities in their territory.
• General State Administration: Would co-govern the Fund and finance it through the General State Budgets.

Words worth knowing

Tercer Sector (Third Sector)

Private nonprofit organizations that meet social needs, such as NGOs and associations.

Capital riesgo social (social venture capital)

Money invested in social companies or organizations by buying shares, seeking a benefit for society in addition to profits.

Bienes vacantes (ownerless assets)

Assets with no known owner, such as abandoned deposits or inheritances without heirs, which pass to the State.

Sucesión abintestato (intestate succession)

The inheritance of a person who died without a will.

It summarizes the text as it was introduced. It is written by artificial intelligence and may contain mistakes: the official text is what counts. Read the official text · How we make summaries