2024-09-25 12:51:26
Deputies of the “My Step” faction of the National Assembly Mkhitar Hayrapetyan, Artak Manukyan, Alen Simonyan, Hovhannes Hovhannisyan, Hamazasp Danielyan and Tsovinar Vardanyan put into circulation the draft of the main law “On Foundations with Intangible Capital”.
“We hope that our initiative will regulate the issues of attracting donations and other gratuitous funds and will lay the institutional foundations for their management. The demand for regulation of such funds was ripe for a long time, and as experience shows, these funds significantly contribute to the financial stability of educational institutions, museums, libraries, sports and other organizations.
For example, in the USA, where endowments are the most prevalent in the higher education system, Harvard University’s endowment was $37 billion in 2017, and the total amount of endowments collected by US educational institutions was about $600 billion. With the project put into circulation by us, we expect to regulate:
1) The order of formation, replenishment and management of the endowment,
2) Organizational-legal type and legal status of the endowment
features,
3) The procedure for managing the income received from the endowment,
4) Persons providing funds to Endaumnet and their powers,
5) Taxation to promote endowment activities
application of privileges,
6) Control over the activities of endowments”, Mkhitar Hayrapetyan said in the message.