Israel: Basic Law of 1975, The State Economy
| Publisher | National Legislative Bodies / National Authorities |
| Publication Date | 31 July 1975 |
| Cite as | Israel: Basic Law of 1975, The State Economy [Israel], 31 July 1975, available at: https://www.refworld.org/docid/3ae6b5284.html [accessed 29 May 2023] |
| Comments | This is the official translation (but unofficial consolidation). The Law was passed by the Knesset on 21 July 1975 and published in Sefer Ha-Chukkim No. 777 dated 31 July 1975. The last amendment included here is Amendment No. 2, which was passed by the Knesset on 21 March 1983 and published in Sefer Ha-Chukkim No. 1079 dated 30 March 1983. Please note that Israel has no written constitution in one single document, but a set of Basic Laws. |
| Disclaimer | This is not a UNHCR publication. UNHCR is not responsible for, nor does it necessarily endorse, its content. Any views expressed are solely those of the author or publisher and do not necessarily reflect those of UNHCR, the United Nations or its Member States. |
1.Taxes, compulsory loans, and fees
(a)Taxes, compulsory loans and other compulsory payment shall not be imposed, and their amounts shall not be varied, save by or under Law; the same shall apply with regard to fees.
(b)Where the amounts of any taxes, compulsory loans or other compulsory payments, or fees, payable to the Treasury are not prescribed in the Law itself and the Law does not provide that the amounts prescribed therefor by regulations shall require approval by the Knesset or by a committee of the Knesset.1
2.State property
Transactions in State property and the acquisition of rights and assumption of liabilities on behalf of the State shall be affected by a person empowered in that behalf by or under Law.
3.The State Budget
(a)
(1)The State Budget shall be prescribed by Law.
(2)The Budget shall be for one year and shall set out the expected and planned expenditure of the Government.
(b)
(1)The Government shall lay the Budget Bill on the table of the Knesset at the time prescribed by the Knesset or by a committee of the Knesset empowered by it in that behalf but not later than sixty days before the beginning of the financial year.2
"(2)The Budget Bill shall be detailed.
(3)The detailed Budget Bill of the Ministry of Defence shall not be laid on the table of the Knesset but on the table of a joint committee of the Finance Committee and the Foreign Affairs and Security Committee of the Knesset."3
(4)The Budget Bill shall be accompanied by an estimate of the source for financing the Budget.
(c)In case of necessity, the Government may bring in an Additional Budget Bill during the financial year.
(d)Where it appears to the Government that the Budget Law will not be adopted before the beginning of the financial year, it may bring in an Interim Budget Bill.
(e)The Minister of Finance shall submit to the Knesset every year a report on the implementation of the State Budget. Particulars shall be prescribed by Law.
4.Currency notes and coins
The printing of legal tender currency notes and the minting of legal tender coins, and the issue thereof, shall be done under Law.
5.Inspection
The State economy shall be subject to the inspection of the State Comptroller. Particulars shall be prescribed by Law.
1 amended by the Amendment, passed by the Knesset on 24 May 1982 and published in (I) Sefer Ha-Chukkim (I) No. 1052 dated 1 June 1982.
2 emended by the Amendment, passed by the Knesset on 24 May 1982 and published in (I) Sefer Ha-Chukkim (I) No. 1052 dated 1 June 1982.
3 inserted by Amendment No. 2, passed by the Knesset on 21 March 1983 and published in (I) Sefer Ha-Chukkim (I) No. 1079 dated 30 March 1983.
