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The executive branch constituted the Progresar Plan Trust Fund, which will be formed as a management trust that will have the purpose of financing “lines of action aimed at complementing and strengthening the current actions of the official program of support for students”, as established today in the Official Gazette.
Through Decree 57/2022, it was established that the National State will officiate as “trustee” through the Ministry of Education, which is the application authority of the Progresar Program and will act as administrator of the assets that are transferred in trust.
The function of this Fund “will be to manage the resources of the trust, in accordance with the guidelines to be established in the trust agreement and with the instructions issued by the Executive Committee that will administer the trust,” the rule indicates.
The Fund “will have a duration of 20 years, counted from the date of its constitution through the execution of a trust agreement, and, at its expiration, the property of the trust assets will remain in the power of the trustee”, as established in its articles.
Who will administer the Progresar Plan fund
Likewise, it is established that the Executive Committee that will administer this Fund will be composed of the executive director of Anses, Maria Fernanda Raverta, the Ministry of Education, the Operation Subdirectorate of the Management Company’s Sustainability Guarantee Fund and the Undersecretariat for Educational Portfolio Management.
The presidency and vice-presidency of the Committee will be exercised on a rotating basis for six-monthly periods, and will alternate between Anses and the Ministry of Education.
It was also provided that, in a first period, Raverta would exercise the ownership of the Executive Committee and decisions “will be taken by simple majority”, and, in “case of a tie, the vote of whoever is in office of the Presidency will have double value”.
“The officials mentioned and the officials mentioned in this article will perform their duties on an ‘ad-honorem’ basis,” is underlined in the Executive Decree published today in the Official Gazette.
Regarding its functions, the Executive Committee “will be in charge of setting the conditions, giving instructions and/or prior authorization of the activities carried out by the trustee and carrying out their follow-up.”
How the trust fund will be integrated
Meanwhile, the patrimony of the Progresar Trust Fund will be constituted “by the trust assets, which in no case constitute nor will they be considered as budgetary resources or of any other nature that puts at risk the fulfillment of the purpose to which they are affected, nor the way or opportunity to do it.”
Said assets will be the funds allocated for the Progresar Program, the proceeds of its operations, the income and “fruits and investment of the trust assets.”
“Other resources from the National Treasury that are specifically earmarked for the Fund and contributions, contributions, subsidies, legacies and donations specifically earmarked” for this purpose may also be added.
The trust assets will be used for the design, implementation, monitoring and evaluation of the results of the lines of action defined by the Executive Committee, “which will be aimed at complementing and promoting the current actions of Progresar.”
The norm clarifies that the operations related to this Fund are exempt “from all existing taxes, rates and national contributions and to be created in the future.”
“This exemption contemplates the taxes established in the Value Added Tax Law, text ordered in 1997 and in the Income Tax Law, text ordered in 2019, and its respective modifications, and other internal taxes that may correspond”, it is stated. remark.
Decree 57/2022 invites “the provinces and the Autonomous City of Buenos Aires to exempt from all taxes applicable in their jurisdictions in the same terms as those established.”
Finally, it is provided that “the Executive Committee will issue its own internal operating regulations within 90 days of the entry into force of this Decree and is empowered to issue explanatory and complementary acts that are necessary for the implementation of this Fund “, and it is communicated that “this measure will enter into force the day following its publication in the Official Gazette”.
