Another renegotiation of state debts is on the way
A bill of complementary law to be taken to vote in the Chamber of Deputies in November may alter three complementary laws, three ordinary laws and a provisional measure. It establishes a new renegotiation of debts that states owe to the federal government and conditions for states rated as "C" by the National Treasury to be able to take new credit with federal guarantee. Currently 13 states have that rating.
Complementary Bill 101/2020 was introduced by Deputy Pedro Paulo (Democrats, DEM, of Rio de Janeiro) to replace and expand the scope of the so-called "Mansueto Plan" (Complementary Bill 149/2019), which the government had submitted to Congress last year but was not voted.
The plan, named after former Treasury Secretary Mansueto Almeida, aimed at establishing conditions for states rated "C" to be able to take new credit with federal guarantee. Bill 149 ended up turned in the Chamber of Deputies into a revenue insurance for states and municipalities, valid during the covid-19 pandemic, something that Economy Minister Paulo Guedes rejected and the Senate buried.
Now, it returns as bill 101, authored by the rapporteur of the "Mansueto Plan." Deputy Pedro Paulo told Valor that, after the pandemic, period in which the federal government transferred funds directly to states and municipalities, it is now necessary to ensure credit for states and cities to make investments and pay for current expenditures. "Bill 101 authorizes new credit transactions, conditioned on the adoption of fiscal-adjustment measures," he said.
Yet his bill is much broader than the "Mansueto Plan." It establishes, for example, a new round of negotiations of state debts. Even before the pandemic, several states won provisional rulings from the Federal Supreme Court (STF) not to pay their debts to the federal government.
Under the proposal, debts will be added to the outstanding balance and paid in 240 months, said Deputy Mauro Benevides Filho (Democratic Labor Party, PDT, of Ceará), rapporteur of bill 101. He said the unpaid debts of Rio de Janeiro taken when the Fiscal Recovery Regime was in place, estimated at R$52 billion, would also be renegotiated, with 20 years for repayment. "I'm still calculating the total state debts that will be renegotiated," Mr. Benevides Filho said. "The amount is impressive."
Bill 101 changes the Fiscal Recovery Regime (established by complementary law 159) with the goal of creating conditions for other states, in addition to Rio de Janeiro...
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