Zona de Azar Brasil – Brazil: Purpose of the Lottery Funds Project

Brazil – October 9, 2024 – www.zonadeazar.com Bill 1658/23, already approved by the Senate and currently under review by the Chamber of Deputies, proposes a significant change in the allocation of funds raised by sports lotteries.

The proposal aims to strengthen the National Land Credit Program (PNCF) by directing part of the net proceeds from three annual lotteries to this cause. The measure seeks to expand access to rural credit, benefiting small family farmers and rural workers.

Purpose of the Lottery Funds Project

The main goal of the project is to strengthen rural credit financing through the PNCF. This program offers credit lines for purchasing rural properties and structuring agricultural production.

According to Senator Jaime Bagattoli, the author of the proposal, “the reality has shown that access to the PNCF has not been satisfactory due to the lack of resources.”

Thus, the proposal aims to allocate funds to the Land and Agrarian Reform Fund, known as the Land Bank.

Currently, Law 13.756/18 already allocates the income from three annual lotteries to the Brazilian Red Cross and to the federations of the Associations of Parents and Friends of the Exceptional (Fenapaes) and the Pestalozzi Associations (Fenapestalozzi).

The proposal under discussion seeks to redirect part of these funds to land credit, promoting rural development and economic sustainability in agricultural communities.

The project is being considered conclusively and will be reviewed by several committees. Among them are the Committee on Agriculture, Livestock, Supply, and Rural Development. Additionally, it will pass through the Finance and Taxation Committee.

Finally, it will be evaluated by the Constitution, Justice, and Citizenship Committee. For the text to become law, the Chamber of Deputies must approve it.

Importance of the PNCF

The National Land Credit Program is essential for small farmers and rural workers as it facilitates access to land and resources for agricultural production.

With the approval of the project, it is expected that more families will benefit from these credit lines, promoting economic and social development in rural areas.

Edited by: @_fonta www.zonadeazar.com