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Processing of Proposed Laws Classified as Urgent Economic Matters
- March 5th, 2026
- Quevedo & Ponce
What is an Urgent Economic Bill?
These are legislative initiatives submitted by the Presidency of the Republic to the National Assembly. These bills must refer exclusively to a single subject, substantive aspects of economic policy, whose expedited processing is necessary to guarantee balanced public finances or to address an adverse economic situation. Art. 56 (4) LOFL
Furthermore, a new urgent economic bill may not be sent if one is already being processed, unless a State of Exception is in effect. Art. 140 CRE
Accelerated legislative procedure
· Qualification: The Legislative Administration Council (CAL) must qualify the bill, verifying that it meets all requirements. Art. 56 (4) LOFL
· Committee Processing: The specialized committee has 10 days to submit its report for the first debate. Art. 59 LOFL
· Second Debate: After incorporating observations from the first debate, the Plenary of the National Assembly will conduct the second debate. This must take place within the 30-day deadline to approve, modify, or deny the bill. Art.62 LOFL
What happens if the assembly does not issue a ruling?
The National Assembly has a period of 30 days to approve, modify, or deny them, from the date of receipt. If the Assembly does not issue a ruling within the 30-day period, the President may promulgate it as an Urgent Economic Decree-Law. This will enter into force upon its publication in the Official Gazette. Art. 62 LOFL
At Quevedo & Ponce, we analyze constitutional regulations to provide you with a clear vision of the impact of legal reforms on the country’s economic environment.
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