14:27 23.09.2019

Zelensky signs law on state support for cinematography

3 min read
Zelensky signs law on state support for cinematography

 President of Ukraine Volodymyr Zelensky has signed the law "On Amendments to the Budget Code of Ukraine regarding state support for cinematography."

"The document is aimed at ensuring the implementation of the mechanisms laid down in the law "On state support for cinematography in Ukraine" and the settlement of the issue of financial support by the state for the implementation of projects in the field of cinematography," the presidential press service said on Monday.

The law establishes, in particular, that certain payments from the subjects of cinematography related to the receipt of state support by them will be credited to a special fund of the state budget and will be directed to state support of cinematography.

As reported, the Verkhovna Rada on September 12 adopted law No. 1074 on amendments to the Budget Code of Ukraine regarding state support for cinematography. The corresponding decision was supported by 325 deputies.

The is aimed at creating favorable conditions for the production of films, television series, television films and other film products, as well as the development of cinematography in Ukraine.

The innovation is that at the end of the budget period, the State Treasury stores all the balances of the target budget funds of the state support of cinematography on the accounts of managers in the treasury, and the balances of the budget funds of the special fund of the state support of cinematography - on current accounts in banks of the state sector for the implementation of the corresponding expenses in the next budget period, taking into account their intended use.

At the same time, according to the law, the sources of the formation of the special fund of the state budget also become: revenues from the sale of property rights to use the film production created for the state budget or subsidized from the state budget, as well as from the sale of property rights for the use of films produced by the Derzhkino of the USSR, the Ministry of Culture of the Ukrainian SSR and their successors in 1953-1991, which were created at the expense of state funds at state film studios and belong to the state.

In addition, payments are made to the special fund of the state budget for the consideration of applications for state subsidies for the production of film products, which can be used to reimburse part of the expenses of the subject of cinema in the production of a film.

This also includes 50% of revenues received from the rental and/or transfer of rights to use a film that received state support (but not more than 50% of the amount of state support received) paid to the state budget during the entire term of copyright. As well as fines for violation of copyright termination conditions and fees for issuing a state certificate for the right to distribute and show films.

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