Ukrainian parliament adopts law on electronic land auctions

Some 272 lawmakers voted for a respective bill, No. 2195, at second reading on Tuesday, May 18, according to an Ukrinform correspondent.

According to the explanatory note, the law provides for a fundamentally different procedure for the sale and transfer for use of state and municipal land plots. The document introduces the sale of state and municipal land plots or rights to them through electronic auctions in the electronic trading system.

The law defines a new procedure for conducting land auctions through the electronic trading system, which provides for the automation of a number of processes and the publication of all documents related to auctions and land plots in the electronic trading system, which is publicly available and open and improves the effective organization and holding of land auctions.

The law is expected to help optimize the legislation on the sale and transfer for use of state and municipal land plots, improve the mechanisms and procedures for the sale and transfer for use of relevant land plots, accelerate the said processes, increase the economic efficiency of auctions for the sale and transfer for use of land plots, and increase revenues to state and local budgets.

Bill No. 2195 was adopted at first reading on November 14, 2019.

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