Guedes’ plan to promote public actual property is facilitated by the 08/11/2022 TCU determination – Mercado

The plenary session of the TCU (Court docket of Auditors of the Union) has licensed the federal authorities to switch public property of the Union to a non-public fund with out this having to be booked within the finances.

The choice, taken unanimously by ministers, helps Minister Paulo Guedes’ (Financial system) plan to spice up gross sales of those properties with out main restrictions.

The discharge opened up inside disagreements amongst technicians from the courtroom itself. The protection of one of many TCU secretariats was that the operations could be included within the finances, together with contributions that undergo the legislature’s sieve. One other space argued that registration was not required – a place that finally prevailed.

The choice got here after session with the Ministry of Financial system on the registration of the operation, which consists of utilizing actual property to deposit shares in an FII (Actual Property Funding Fund) – in observe transferring the belongings to the fund.

One of many fears amongst supporters of the measure was that paying quotas must compete for house throughout the spending ceiling (a rule that limits federal spending will increase to inflation). With out going by way of the family, this threat doesn’t exist.

The creation of the fund is foreseen by regulation 13.240 of 2015, however has not but been carried out on account of doubts concerning the process.

The Particular Secretariat for Privatization, Divestments and Markets, which is affiliated with the Ministry of Financial system and endorses the initiative, estimates that R$20 billion of actual property may be contributed to the fund within the coming years. These belongings could be accessible on the market or lease.

The thought is that this shall be carried out steadily to check the brand new mannequin. The inclination of the folder is to create completely different backgrounds, every with traits of particular profiles.

Eligible properties are people who don’t have any particular function, be it land, sheds or vacant buildings. Potential locations vary from logistics, improvement of residential and industrial tasks.

The TCU trial report cites that this universe quantities to nearly R$90 billion – a far cry from the R$1 trillion in actual property already talked about by Guedes as a possible sale in the beginning of the federal government.

Nevertheless, the record of belongings to be transferred to the fund will not be but public. In line with authorities sources, technicians are working to settle the documentation of the properties in query and make them accessible for operation. There’s a request for the duty to be accomplished by the tip of this month.

Minister Jorge Oliveira, who was as soon as Chief Minister of the Normal Secretariat of Jair Bolsonaro’s (PL) authorities, reported on the method on the TCU. He was near the President, who nominated him for a courtroom seat.

Though the session got here from the Ministry of Financial system, some representatives of the federal government’s fiscal department opposed the finances bypass allow.

The federal government even requested this exception when it despatched the Precatórios’ PEC (proposed modification to the structure), however the machine was finally faraway from the textual content by parliamentarians.

Engineers who’ve carefully adopted the Dilma Rousseff (PT) authorities’s fiscal maneuvers that served as the premise for the previous president’s impeachment trial take into account the choice to omit finances minutes to be a type of “inventive accounting.”

In the course of the Dilma authorities, the Union used public financial institution shares to contribute to funds with out going by way of the finances for operations, together with the FGeduc (Academic Credit score Operations Assure Fund), the FGO (Operations Assure Fund), and the FGE (Export Assure Fund). .

The TCU has beforehand criticized these operations, warning that they need to undergo the finances, which creates transparency about what’s being carried out with public funds.

Regardless of this precedent, the courts agree that the particular circumstances are completely different, as the brand new operations contain actual property and never shares.

As well as, the ministers famous within the judgment that the duty to register the finances exists every time monetary sources are made accessible or when the Union receives the income paid by the fund or the salaries linked to the participation charges. In observe, the receipts solely seem within the finances at this level.

Semag (Governmental Macro-Analysis Division), which points its opinion on tax and finances points, acknowledged that the cost is a “sui generis” transaction, which means it’s distinctive. Nevertheless, the company argued that it could be most applicable to finances them.

Semag burdened that the structure prohibits the launching of packages or tasks that aren’t included within the LOA (Annual Funds Regulation). In line with Semag, the exclusion of operations from the finances means “lack of decision-making energy over public belongings”, for the reason that FIIs are privately managed.

SecexAdmin (Secretariat for Exterior Management of State Administration), one other division of the TCU, expressed a distinct opinion. For this wing, paying quotas with actual property shouldn’t be budgeted.

“It is a easy fairness motion, an change of non-financial belongings that should be accounted for however not accounted for within the finances piece,” he mentioned.

Guedes proceeds along with his plan to promote federal land. Late final 12 months, he even proposed making a ministry to handle and promote federal belongings. On the time, he repeated his proposal to transform state belongings into funds for an anti-poverty fund.

“I’ve already spoken to the President. I suggest that there should be a Union Heritage Ministry for the brand new authorities,” he mentioned on the time. “The state has R$ 4 trillion [em ativos]a useful fortune and the individuals are poor and depressing,” he mentioned.

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