חוק-יסוד: תקציב המדינה לשנים 2017 ו-2018 (הוראות מיוחדות) (הוראת שעה)Basic Law: State Budget for 2017 and 2018 (Special Provisions) (temporary provision) · automatic translation · suggest a correction

Official summary of the law (Knesset)

Basic Law: The State Budget for 2017 and 2018 (Special Provisions) (Temporary Provision) (hereinafter - the Basic Law), was passed in second and third reading on 2 August 2016. The Basic Law establishes a temporary provision according to which the state budget for 2017 and 2018 will be a two-year budget that will include government expenditures for each of the said years. Since the budget will be a two-year budget comprising two full budget years, a "convergence" mechanism was established, according to which the government will submit to the Knesset, by 1 November 2017, a report regarding the existence or the existence of discrepancies in the state budget, and the Finance Committee will hold a discussion on the said report. It was also established that the government will prepare a balancing plan to cover the remaining expenditure discrepancy or deficit discrepancy, after consultation with the Finance Committee. It was further established that if, after all or part of the actions under the balancing plan have been carried out, the government has not laid before the Knesset its approval regarding those actions - it will be required to submit a new budget for 2018 by the end of January 2018, and the decisive date regarding that budget, and the dissolution of the Knesset if the budget is not approved, will be 30 March 2018.

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