Gov't Bill Outlines Highlighted Budapest Developments

  • 17 Jul 2018 9:09 AM
  • Hungary Matters
Gov't Bill Outlines Highlighted Budapest Developments
The government on Monday submitted a bill on highlighted developments in Budapest. The bill defines how the state will be involved in major developments in Budapest, including a new Student City.

According to the bill sponsored by Gergely Gulyás (pictured on top), the head of the Prime Minister’s Office, future developments in Budapest will receive highlighted status if, among other conditions, they are financed by the government or by the European Union. The bill also defines “top international sporting event”.

A state nonprofit will be responsible for the preparation of key developments in Budapest, investments, planning and licensing, as well as the organisation of major international sporting events.

Plans are also afoot for the development of an athletic stadium with accompanying facilities, leisure park and rowing centre as part of the Student City in southern Pest and northern Csepel.

The bill also includes plans for the Buda Castle and its surroundings. Just as the development of Kossuth Lajos Square in front of Parliament was regulated by a special law, the government argues that Buda Castle, from the Dísz Square to the Royal Palace, should be similarly regulated, with the state taking control of the area from the municipal council.

The bill’s proponent also seeks to amend legislation on investments of major importance for the national economy, complementing it with the term “high-priority public investment” covering related investments in energy, transport development, environmental protection, water protection, disaster management, defence, national security, public administration, education, health, research and development, culture, heritage, sport and urban development.

Also the bill aims to change the 1996 corporate tax and dividend law and the 2004 law on film production in light of the European Commission’s approval of an increase of the tax subsidy from 25 percent to 30 percent as part of the Hungarian film support programme.

MTI Photo: Koszticsák Szilárd

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