"Measures for the Administration of Local Government Bond Issuance" will be implemented on January 1 next year
Ministry of Finance: The scale of local debt issuance shall not exceed the upper limit
The Ministry of Finance formulated the "Measures for the Administration of Local Government Bond Issuance" (hereinafter referred to as the "Measures"), which will come into effect on January 1, 2021.
The "Measures" pointed out that local financial departments should issue local government bonds within approved sub-regional quotas.
The issuance scale of new bonds, refinancing bonds, and replacement bonds shall not exceed the bond limit or issuance scale upper limit of the corresponding category in the current year issued by the Ministry of Finance.
The local government bonds mentioned in the "Measures" refer to government bonds issued by the people's governments of provinces, autonomous regions, municipalities directly under the Central Government, and municipalities specifically designated for bond issuance approved by the provincial people's government to repay the principal and interest within a certain period of time.
Local government bonds include general bonds and special bonds.
General bonds are government bonds issued for non-profit public welfare projects, mainly using general public budget revenue as the source of capital and interest payments; special bonds are issued for public welfare projects with a certain income, and public welfare projects correspond to government bonds. Government bonds with fund income or special income as a source of capital for repayment of principal and interest.
The "Measures" make it clear that local governments independently organize local government bond issuance and repayment of principal and interest in accordance with the law.
The issuance and redemption of local government bonds is handled by the local government finance department.
The local financial department shall earnestly perform its debt repayment responsibilities, pay the principal and interest of the bonds in a timely manner, and maintain the government's credibility.
Strengthen the tracking and management of special bond projects, strictly implement the relevant requirements for the balance of project income and financing scale, guarantee the debt repayment and prevent special bond repayment risks.
The "Measures" require that local financial departments should promptly disclose local government bond issuance arrangements, basic bond information, financial and economic operations and debt conditions in the region, bond credit rating reports, etc., in accordance with relevant regulations on local government bond information disclosure.
Special bonds should also disclose project information, project income and financing balance plans, government funds or special income corresponding to the bonds, evaluation opinions issued by third-party professional institutions, and other items that have a significant impact on investors' purchase decisions. information.
Related
Electronic bills and paper bills have the same legal effect
The official website of the Ministry of Finance also announced the "Decision of the Ministry of Finance on Revising the Measures for the Administration of Fiscal Bills".
The new "Administrative Measures on Fiscal Instruments" will come into effect on January 1, 2021.
The new regulations clarify that financial electronic bills and paper bills have the same legal effect and regulate the management process.
The medical insurance department, commercial insurance and other units can use financial electronic bills as legal vouchers for reimbursement entry and electronic filing.
Financial departments at all levels generate, transmit, store, and inspect financial electronic bills in accordance with unified financial electronic bill data standards, and provide authenticity verification services for financial electronic bills through relevant bill public service platforms.
In addition, in the new regulations, in accordance with the practice of fiscal electronic bill management reform, the special bills and fixed-value bills for non-tax revenue are cancelled; the unified management of fiscal bills is clarified, and the national unified style, coding rules and electronic bill data standards for fiscal bills are determined; deleted The certification items, special anti-counterfeiting products, and the collection of bills cost, etc., added the content that the financial department and its staff should provide convenience for the receiving unit to obtain the certificate and obtain the bill.
If the unit that first applies for fiscal bills is no longer required to submit government approval documents, qualification license documents and other supporting materials, the claimant only needs to "provide verifiable information related to the type of bill as required, and be responsible for the authenticity of the information provided. Responsibilities”; establish a fair competitive market environment, delete the relevant content of special anti-counterfeiting fiscal bills; implement the national tax reduction and fee reduction requirements, delete the relevant content of the collection of fiscal bills, and change the original “purchase” to “receive Use", etc.
This group of articles / reporter Zhao Xinpei