New construction on loan with a 2-year grace period
The bill on the establishment of the Family and Youth Fund was presented to the Presidency of the Grand National Assembly of Turkey. According to the proposal, the Family and Youth Fund will be created, which is a public legal entity attached to the Ministry of Treasury and Finance.
The board of directors of the fund will be made up of five people, chaired by the Vice Minister of Treasury and Finance, the Vice Minister of Family and Social Services, the Vice Minister of Youth and Sports, the Vice Minister of Energy and Natural Resources and the Vice Minister of Industry. and Technology. Council decisions will be made by majority vote. The vice ministers will be appointed by the corresponding ministers.
IT WILL BE CARRIED OUT BY THE MINISTRY OF TREASURY AND FINANCE
The Family and Youth Fund will be administered by the board of directors. The board of directors will be authorized to determine the projects to which resources from the fund will be transferred, the amount of resources to be transferred and the spending programs.
The secretariat services of the Family and Youth Fund will be provided by the Ministry of Treasury and Finance.
FUND RESOURCES
The resources of the fund range from 20 percent of the state share collected under the Turkish Petroleum Law and the state fee collected under the Mining Law, up to 10 percent of the income of the established funds and which will be established by laws and decrees, by decision of the President, and the amounts that will be transferred within the framework of the projects whose reimbursement is planned, and will include amounts consisting of payments, all types of cash donations, aid and subsidies from sources national and foreign, and other income.
The President will be authorized to reduce the rate of state shares collected under the Turkish Petroleum Law and state duties collected under the Mining Law to zero, or to increase this rate by two.
The expenses of the fund will be made up of the amounts transferred to the relevant institutions and organizations for incentives, subsidies, support, loans and guarantees in the scope of the projects approved by the board of directors, fees and commissions for services derived therefrom, expenses within the scope of managing fund resources and projects approved by the board of directors, and other operating expenses.
RESOURCE TRANSFERS
For projects approved by the board of directors in accordance with the purpose of the fund, resources will be transferred from the fund to relevant public institutions and organizations by decision of the board of directors, which will be paid within the scope of expenditure. program.
Responsibility for the economic and technical viability of the projects and for the legal, effective, economic and efficient use of the amounts transferred by the fund will correspond to the relevant institutions and organizations.
The transferred amounts will be recorded as income in the general budget of the Administrations included in the scope of the general budget, and in the budget of the corresponding public institutions and bodies of the other Administrations.
The relevant administrations will be authorized to register credits for the amounts recorded in the agreements that are opened in the budgets of the corresponding administrations and to transfer the parts of the amounts recorded as credits that are not spent within the year to the following year.
Amounts transferred in projects for which reimbursement is planned will be reimbursed to the relevant public institutions and organizations. Relevant administrations will be authorized to record amounts reimbursed to relevant institutions and organizations as revenues and credits in the general budget of administrations within the scope of the general budget, and in the budget of relevant institutions and organizations of other administrations. The amounts recorded as income and benefits will be transferred to the fund by the relevant institutions and organizations as expenses to the budget no later than the tenth working day of the following month.
If the projects approved by the board of directors are temporary and the relevant institutions and organizations do not spend the amounts paid within the scope of the expenditure program, the relevant institutions and organizations will transfer the unspent amounts to the fund as expenditure to the budget within the tenth day working day following the completion of the corresponding project.
To transfer to the beneficiaries the resources transferred to the relevant institutions and organizations and receive refunds that may arise, these institutions and organizations are payment service providers operating within the scope of the Law on Payment and Settlement Systems of Securities, Services of Payment. and Electronic Money Institutions, Financial Leasing, Factoring, Financing and Savings Financing. Protocols may be concluded with financial companies and credit guarantee institutions that operate within the scope of the Public Limited Companies Law.
FINANCIAL DATA WILL BE SHARED WITH THE PUBLIC
If the data and information are requested by the fund, the relevant institutions and organizations and the organizations with which the protocol has been signed will be obliged to provide all types of data and information requested regarding the projects presented to the board of directors, within the form and within the deadlines determined by the fund.
Financial data related to the fund will be shared with the public at least every 6 months.
The fund will be exempt from corporate tax. An economic company will not be considered constituted by the income generated by the fund from activities related to its functions. This exemption will also cover tax deductions on the profits and income of the fund in accordance with the Income Tax Law and the Corporate Tax Law.
In addition, the fund will be exempt from stamp duties and fees. Donations and aid made to the fund will be exempt from inheritance and transfer taxes, interest charged by banks and financial companies for the amounts transferred from the fund’s resources to the beneficiaries, and dividends will be exempt from taxes and deductions on banking transactions and insurance. to the fund to support the use of resources.
All cash donations and aid made to the fund may be deducted from the declared income or social benefit, provided that they appear separately in the Income Tax or Corporate Tax declaration in the determination of the taxable base of the Income Tax. o Company within the framework of the provisions of the Companies Law. Tax Law.
The procedures and principles of operation of the fund, the resources and expenses of the fund, and the procedures and principles relating to the transfers of resources of the fund will be determined by the regulations to be issued by the President.
LOAN FOR YOUNG PEOPLE WHO WANT TO GET MARRIED
In the justification of the proposal presented to the Presidency of the Grand National Assembly of Turkey it is stated that a family built on solid foundations is the most important component of a healthy society, and that the power and solution capacity of the family is the warranty. of social peace, and that the strengthening of the family institution is the last resort for the healthy sustainability of the social structure and development, and it was noted that it is of great importance.
Remembering that the family is defined as the basic institution of society in the Constitution due to its importance, it was reported that the regulation provides for the creation of the Family and Youth Fund affiliated with the Ministry of Treasury and Finance.
The justification highlights that the aim is to increase the effectiveness of the support programs that are currently carried out through the fund, diversify and expand services and contribute to the strengthening of the family institution. protect the dynamic and young structure of the population, strengthen the foundations of the family institution by supporting young people who will marry, prepare future generations for a life in a healthy family environment and increase social well-being. to ensure its continuation.
The justification noted that the notable dreams, ideals, energies and visions of young people are indispensable elements for the continued development of the societies in which they live, and noted the following:
*In addition, the problems faced by young people stand out as essential elements of the problems and expectations of current societies and future generations.
*In this framework, with the objective of bringing young people, who are the human capital of our country, to the highest level in quantity and quality, through the proposal and the fund; Its objective is to support your development and initiatives.
*In this context, it is expected that the resources of the fund will be used to protect and strengthen the family institution, ensure that young people’s marriages are based on more solid foundations, protect young people and families against social risks and support the development and youth initiatives. In this sense, a special structure is established in the form of a fund where the determined resources are allocated only to the aforementioned purposes. (AA)
Source: Sozcu

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