Bill to create an independent authority to oversee EU recovery funds

Automatic summary, not yet reviewed

1. The bill would create the Independent Authority for Economic Recovery, a public body with its own legal personality that would manage the EU recovery funds independently of the Government and political parties.
2. The Authority would set investment priorities, the criteria for distributing money among the central government, autonomous communities and local governments, and would oversee completed projects. It would also be the sole contact with the European Union.
3. A President, appointed by the Council of Ministers, would lead it, but only if a congressional committee accepts the candidate by a two-thirds majority. The term would be six years, non-renewable, and no one could give the President instructions.
4. The Recovery, Transformation and Resilience Plan would be approved by the Council of Ministers at the Authority's proposal, and then by the Congress and the Senate by a two-thirds majority. The Authority would report to Parliament every three months and to the Court of Auditors.
5. The bill sets rules for groups of people or companies applying for aid linked to the plan, with joint liability among members, and for consortia carrying out projects, whose creation the Authority itself could authorize.
6. The Spanish Finance Ministry unit that manages the EU funds would be transferred, with all its staff and resources, to the new Authority.

Who it affects

• The Government and public administrations: They would have to cooperate with the Authority and provide any information it requests; if they do not, the failure would be published and reported to Congress.
• Autonomous communities and local governments: They would receive funds according to the distribution criteria set by the Authority.
• Companies and entities applying for aid or running plan projects: They could form groups or consortia under specific rules.
• Congress and Senate: They would oversee management every three months and approve the plan by a two-thirds majority.

Words worth knowing

Fondos NGEU (Next Generation EU)

Money the European Union lends or grants to member countries to recover from the coronavirus crisis.

PERTE

Strategic Projects for Economic Recovery and Transformation: large public investment projects the Authority would assess and oversee.

Ente de Derecho Público

Spanish term for a public body with its own legal personality, meaning it can act on its own with some independence from the Government.

Mayoría cualificada de dos tercios

A qualified two-thirds majority: approval requires the votes of two out of every three members present, not just more yes than no votes.

Responsabilidad solidaria

Joint liability: if several members of a group receive aid, each one answers for the whole, not just their own share.

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