MPs has developed an alternative draft law on land market

the parliamentary group "BPP" said a group of parliamentarians working on establishment of an alternative bill on land reform. On a new law work in the agricultural and Finance committees and an ex-Minister of economy A. Abramavicius. To the Verkhovna Rada a draft plan be submitted before 15 may, i.e. two weeks after the government, which will set limits on the purchase of land over 200 hectares.

Among the key provisions of the new instrument are the following:

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• the Opening of the land market in 2018.
• the
• Permission to purchase land will be provided to individuals and legal entities. Limitations for individuals and 500 hectares for legal entities – no more than 20% of agricultural land area (approximately 20 thousand ha), 9% of agricultural land area (approximately 110 thousand hectares) and not more than 1% of agricultural land in the country (400 thousand ha).
• the
• To prevent speculative buying of land, the majority of transactions are concluded through electronic auctions.
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• Minimum value of land should not be below the level of regulatory and monetary valuation.

According to experts, the average cost of plots will be 1500 $/ha. in addition, land can be in the form of Bank collateral.

the developers of the bill estimated revenues of the state budget after the sale of 1 million hectares will be 1.5-2 billion dollars, and investment in agriculture during the first years after the opening of the land market reached $ 10 billion.

Recall that the adoption of the law on market of agricultural land is one of the requirements of the Memorandum of cooperation with the IMF.