The Cámara de Diputados (Chile's lower house of Congress) on Wednesday approved the bill that extends bonuses for taxi drivers, school transport operators and artisanal fishers. According to Diario Financiero, the bill has been sent to the Executive for promulgation and subsequent publication in the Diario Oficial (Chile's official gazette).
The text also extends by two years the period during which the Treasury can make contributions to the Fondo de Garantía para Pequeños Empresarios (Fogape), a state guarantee fund for small businesses. The measure seeks to give continuity to the Chile Adelante plan and to mitigate the effect of rising fuel prices.
The core of the bill is the monthly bonus of $100,000 for drivers of taxis, shared taxis (taxis colectivos) and school transport, as well as artisanal fishers. The benefit was designed to end in September. It now adds October, November and December of this year.
The bill introduces a new benefit for artisanal fishing. It creates a bonus of the same amount for owners of vessels up to 12 meters in length registered in the Registro Pesquero Artesanal (Chile's artisanal fishing registry).
Use of the funds is restricted. Beneficiaries may only spend them on the fuel they use to operate their vehicles and vessels.
The second pillar concerns small and medium-sized businesses. The State's authority to inject resources into Fogape was set to expire in December of this year. Under the new law, it is extended until December 31, 2028.
Fogape is a state fund managed by BancoEstado. It backs part of the loans requested by companies that lack sufficient collateral to obtain bank financing. In practice, it makes it easier for small and medium-sized businesses to access funds for working capital and investment.
The source does not specify how many people will receive the bonuses or the total fiscal cost of the extension. Nor does it give the date of promulgation.
The next step is clear: the Executive must promulgate the law and publish it in the Diario Oficial so that the October, November and December payments reach beneficiaries.
