חוק יסודות התקציב (תיקון מס' 53), התשפ"א–2020Basic Law: Budget Principles (Amendment No. 53), 2020 · automatic translation · suggest a correction

Official summary of the law (Knesset)

Section 3B of the Basic Law: The State Economy establishes the provisions that apply in a year in which a budget law has not been adopted before the beginning of the fiscal year. During this period, the Government may spend each month an amount equal to one-twelfth of the previous year's annual budget, plus linkage to the consumer price index, managed by the Accountant General (continuing budget). This Law was amended in parallel with Amendment No. 11 to the Basic Law: The State Economy, which established several amendments to the provisions applicable to the continuing budget, in order to address difficulties in the arrangement. The amendment separated the expenditure components into expenditure of 1/12, expenditures conditional on revenue, expenditures of business enterprises, and principal repayments on debt that is not a debt to National Insurance. In addition, the amendment allows the state to commit to expenditures in the amount of government expenditure while taking into account past commitments, provided that the commitments do not increase expenditure beyond the framework of the continuing budget, or, with respect to another year, beyond the expenditure permitted under the three-year budget plan. In addition, the amendment establishes that the Government will be allowed to commit surplus amounts from the previous year, provided that the commitment is for the purpose of carrying out the action for which the amount was originally intended, but only for 85% of such surplus amounts. It was also established that during a continuing budget year, the Ministry of Finance is required to publish monthly details of the funds spent by the Government under the said arrangement, as well as any other decision made pursuant to the Accountant General's instructions during the continuing budget year.

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