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Type a law, a topic, a person or a province.

What it is

Rules for Spanish regions to meet budget stability targets

BOE step 7 of 7 · Passed

It is a government bill. Introduced by the Government. It was introduced on 2 February 2001. Introduced by: Gobierno.

Official title: Government bill for a complementary Organic Law to the General Law on Budgetary Stability.

Follow this law

Source: Congreso de los Diputados, file 121/000030· updated 11 Nov

Automatic summary, not yet reviewed

  1. This law complements the General Budget Stability Law and creates cooperation mechanisms between the State and the Autonomous Communities to meet the budget stability target.
  2. The Autonomous Communities must apply the principles of budget stability, multi-year planning, transparency and efficiency, and can choose the measures to reach the target, though they cannot finance it with more public debt. If they run a deficit, they must justify it and present a medium-term recovery plan.
  3. If a Community breaches the rules and causes Spain to breach its commitments to the European Union under the Stability and Growth Pact, it assumes the financial responsibility that corresponds to it, with a guaranteed hearing beforehand.
  4. The Council for Fiscal and Financial Policy coordinates budget policy: it issues a report on the joint target, sets each Community's individual target within one month, and if there is no agreement, each Community must approve at least balanced budgets.
  5. Communities in deficit must draw up a three-year economic and financial recovery plan, which the Council can reject by demanding a new one within twenty days. The Ministry of Finance can request information to check compliance, and State authorization for credit operations and debt issuance will take into account whether the targets are met.
  6. A public information center of the Ministry of Finance is created to track the credit and debt of the Communities, using data from banks, savings banks and other administrations, with the Bank of Spain's cooperation. The Communities must also guarantee stability in their dependent public entities. The law amends the organic law A law on fundamental rights, the electoral system or other matters the Constitution reserves. It needs an absolute majority in the Congreso: 176 votes. on Financing of the Autonomous Communities and takes effect on January 1, 2002.

Who it affects

  • Autonomous Communities (Comunidades Autónomas): They must meet the budget stability target, present plans if they run a deficit, and provide information to the Ministry of Finance.
  • Council for Fiscal and Financial Policy (Consejo de Política Fiscal y Financiera): It coordinates stability targets and reviews the Communities' correction plans.
  • Ministry of Finance (Ministerio de Hacienda): It checks compliance, runs the information center, and authorizes credit and debt operations.
  • Banks and financial institutions: They must send data on the Autonomous Communities' credit operations.
  • Navarre and the Basque Country: The law applies to them according to their special foral regimes.

Words worth knowing

Estabilidad presupuestaria (budget stability)
When public revenues cover public spending, that is, when there is no deficit.
Déficit (deficit)
A situation where more money is spent than is received.
Plan económico-financiero de saneamiento (economic and financial recovery plan)
A document where a Community explains how it will correct the gap between its revenues and spending.
Régimen foral (foral regime)
The special tax and financial system that applies in Navarre and the Basque Country.
Ley Orgánica (Organic Law)
A type of Spanish law reserved for very important matters; it requires a special vote in Congress.
organic law
A law on fundamental rights, the electoral system or other matters the Constitution reserves. It needs an absolute majority in the Congreso: 176 votes.

It summarizes the law as published in the BOE. It is written by artificial intelligence and may contain mistakes: the official text is what counts. Read the official text · How we make summaries

Where it stands

How far did it get?

It took 7 of 7 steps. It reached BOE, and today it is passed.

  1. Introduced2 February 2001Someone registers the text in the Congreso.
  2. Admitted6 February 2001The Bureau of the Congreso accepts it and, for a members’ bill, the plenary decides whether to consider it.
  3. Amendments9 February 2001Groups propose changes.
  4. Committee6 March 2001A committee goes through the text in detail.
  5. Plenary18 September 2001All 350 deputies vote.
  6. Senate4 October 2001The Senate can pass it, amend it or veto it.
  7. BOE22 November 2001It is published in the Official State Gazette (BOE) and comes into force.
See the 11 official steps on a timeline
Feb 2001Mar 2001Apr 2001May 2001Jun 2001Jul 2001Aug 2001Sept 2001Oct 200111. 2 February 2001: Presentación22. 6 February 2001: Comisión de Economía y Hacienda Publicación desde 06/02/2001 hasta 09/02/200133. 6 February 2001: Calificación44. 9 February 2001: Comisión de Economía y Hacienda Enmiendas desde 09/02/2001 hasta 08/06/200155. 6 March 2001: Comisión de Economía y Hacienda Mesa - Calificación desde 06/03/2001 hasta 06/03/200166. 6 March 2001: Comisión de Economía y Hacienda Debate de totalidad desde 06/03/2001 hasta 08/03/200177. 8 June 2001: Comisión de Economía y Hacienda Informe desde 08/06/2001 hasta 13/09/200188. 13 September 2001: Comisión de Economía y Hacienda Dictamen desde 13/09/2001 hasta 18/09/200199. 18 September 2001: Pleno Aprobación desde 18/09/2001 hasta 04/10/20011010. 4 October 2001: Senado desde 04/10/2001 hasta 22/11/20011111. 22 November 2001: Concluido - (Aprobado con modificaciones) desde 22/11/2001 hasta 10/01/2002

Was there a plenary vote?

We have no plenary vote linked to this law in the Congreso’s data.

What happens next

What happens now?

It is law, or will be once published in the BOE. It comes into force on the date its own text sets.

The same initiative in the other chamber:

Published in the BOE: Organic Law 5/2001, of December 13, complementary to the General Budget Stability Law

Sources

Where does all this come from?

  • The data comes from the open files of the Congreso, the Senate and the BOE, unaltered.
  • Each deputy’s province is the one of their seat on the day of the vote.
  • We only say “passed” or “rejected” when the majority needed is certain; otherwise we say which side had more votes.

Read the full method · Report an error