Brazil congress approves oil royalty bill
BRASILIA, Brazil (AP) — The lower house of Brazil’s Congress has approved a bill that sets aside all royalties from newly discovered oil fields for education and health programs.
The Chamber of Deputies approved the bill Wednesday night. It stipulates that 75 percent of the royalties be used for education and 25 percent for health.
It was among the reforms the government proposed after widespread protests swept the country in June targeting transportation fare hikes, corruption, high taxes, and faulty public services.
The proposed law says the royalties will come from drilling contracts signed after Dec.2012.
President Dilma Rousseff must now sign off on the legislation, which was earlier approved by the Senate.