The Brazilian Chamber of Deputies has approved bill 2824/20 to collaborate with the financing of national sport throughout the remainder of the COVID-19 imposed state of emergency.
Previous modifications have seen the option of obtaining resources through lottery prizes eliminated, with the Senate now reviewing the proposal with a decision impending regarding whether the law will come into effect in the coming weeks.
Under the project, presented by deputy Felipe Carreras, the sports sector will acquire financial aid for athletes and could renegotiate their debts, according to BNL Data.
Among the measures envisaged includes an emergency aid of R$600 for athletes and people linked to sports for three months.
This would also see the a tax exemption imposed until 2028 for the purchase of sporting goods, facilitated lines of credit, permission to use funds from the federal lotteries of Agnelo-Piva laws to pay tax and administrative debts as well as tax exemption for ‘unrecoverable’ clubs for the federations, except football.
The law also provides will also provide R$1.6bn worth of financial aid for workers in the sports industry, with part of this sum being generated by lottery income.
It has been stated that 3% of the sector’s prizes would go to sports, although after several suggestions from the Ministry of the Economy, the project’s rapporteur and deputy Alexandre Frota announced the elimination of this article.
