Constitución en Inglés

263 Corte Constitucional de Colombia Upon the initiative of the Government, the law shall determine the distribution, objectives, purposes, administration, collection, control, efficient use, and destination of the revenues resultingfromtheexploitationofnonrenewable natural resources, stipulating the conditions for their beneficiaries’ partaking of them. The totality of revenues, assignments, organs, procedures, and regulations shall constitute the General System of Royalties. Current revenues of the General System of Royalties will be allocated to the financing of investment projects that contribute to the social, economic, and environmental development of territorial entities. The revenues referred to in the previous subsection will be distributed as follows: • 20 percent for departments and municipalities in whose territory the exploitation of nonrenewal natural resources is advanced, as well as for municipalities with maritime and fluvial ports through which these resources or products derived from them are transported. Municipalities that exploit nonrenewable natural resources furthermore will receive an additional 5 percent that can be anticipated in the terms defined by the law that the System develops. • 15 percent for the country’s poorest municipalities, with criteria of unsatisfied basic needs and population, of which a minimum of two (2) percentage points will be directed to projects related to or with incidence over the environment and sustainable development, which will be invested according to a national strategy for protection of strategic environmental areas by municipalities. ARTICLE 361