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Israel - Basic Law: The State Economy Index Page Document Table of Contents

    { Adopted on: 21 July 1975 }
    { ICL Document Status: 21 March 1983 }

 

Section 1  Taxes, compulsory loans, and fees

(a) Taxes, compulsory loans and other compulsory payment shall not be imposed, and their amounts shall not be varied, save by or under Law; the same shall apply with regard to fees.
(b) Where the amounts of any taxes, compulsory loans or other compulsory payments, or fees, payable to the Treasury are not prescribed in the Law itself and the Law does not provide that the amounts prescribed therefor by regulations shall require approval by the Knesset or by a committee of the Knesset, the amounts prescribed therefor by regulations shall require approval - in advance or within the period prescribed by the Law - by a decision of the Knesset or of a committee of the Knesset empowered by it in that behalf.
 

Section 2  State property

Transactions in State property and the acquisition of rights and assumption of liabilities on behalf of the State shall be effected by a person empowered in that behalf by or under Law.
 

Section 3  The State Budget

(a) (1) The State Budget shall be prescribed by Law.
(2) The Budget shall be for one year and shall set out the expected and planned expenditure of the Government.
(b) (1) The Government shall lay the Budget Bill on the table of the Knesset at the time prescribed by the Knesset or by a committee of the Knesset empowered by it in that behalf but not later than sixty days before the beginning of the financial year.
(2) The Budget Bill shall be detailed.
(3) The detailed Budget Bill of the Ministry of Defence shall not be laid on the table of the Knesset but on the table of a joint committee of the Finance Committee and the Foreign Affairs and Security Committee of the Knesset.
(4) The Budget Bill shall be accompanied by an estimate of the sources for financing the Budget.
(c) In case of necessity, the Government may bring in an Additional Budget Bill during the financial year.
(d) Where it appears to the Government that the Budget Law will not be adopted before the beginning of the financial year, it may bring in an Interim Budget Bill.
(e) The Minister of Finance shall submit to the Knesset every year a report on the implementation of the State Budget.  Particulars shall be prescribed by Law.
 

Section 3b  Failure to adopt the Budget Law

(a) should the Budget fail to be adopted before the beginning of the fiscal year, the Government will be permitted to spend, on a monthly basis the amount equalling one twelfth of the budget of the previous year, with the addition of linkage according to the consumer price index, published by the Central Bureau of Statistics.
(b) Moneys according to Subsection (a) will be initially designated for the discharging of legal obligations, contracts and treaties; the remainder will be used by the Government exclusively for the operation of essential services and the activities included in the previous Budget Law.
(c) This section may only be amended by a majority of the Knesset members.
 

Section 4  Currency notes and coins

The printing of legal tender currency notes and the minting of legal tender coins, and the issue thereof, shall be done under Law.
 

Section 5  Inspection

The State economy shall be subject to the inspection of the StateComptroller.  Particulars shall be prescribed by Law.

For methodology see: Comparing Constitutions and International Constitutional Law.
© 1994 - May 29th, 2010 / For corrections please contact A. Tschentscher.