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The draft federal constitutional law sets out the main conditions, procedures and timetable for the formation of the new region within the Russian Federation, its designation, status and borders, the date by which Krasnoyarsk Region, Taimyr (Dolgan-Nenets) and Evenkia Autonomous Districts will cease their existence, and the transition period for the formation of the new region of the Russian Federation from January 1 and not later than December 31, 2007. During this transition period, the formation of the new region’s bodies of state power should be completed.
The draft law sets out the procedures for drawing up and adopting the new region’s budgets for 2007 and 2008 (article 14) and for the provision of financial support from the federal budget in 2006–2008 (article 15). The formation, approval and execution of the new region’s budget shall be carried out in accordance with the budget legislation of Krasnoyarsk Region and (or) with that of the new region. The new region shall receive, until 2008 inclusively, financial support from the federal budget to a total of not less than the level of federal budget support allocated in 2005 to Krasnoyarsk Region, Taimyr (Dolgan-Nenets) and Evenkia Autonomous Districts.
Implementation of the present federal constitutional law’s provisions shall be carried out within the framework of execution of the federal laws on the federal budget for the appropriate year and does not require any additional expenses that would be covered by federal budget funds.