This Law creates the Sovereign Fund of the State of Rio de Janeiro, a special fund of a financial and accounting nature, linked to the State Executive Branch, with the following purposes: constitute a public savings fund with public resources from the exploitation of oil and natural gas; mitigate the instability of revenue flows from oil and natural gas exploration indemnities; guarantee the State's fiscal sustainability in the short, medium and long term; increase savings for future generations; protect Rio's budget and economy from excess volatility in revenues from oil royalties; finance the social and economic development of the state of Rio de Janeiro.
Brazil · 2022-03-02