NATIONAL ROYALTIES FUND
Through Decree 4355 of 2005, the Royalties Advisory Council was created as a supporting and advisory entity for the National Planning Department, responsible for helping determine the guidelines and requirements that must be met by local authorities, seeking the appropriate use of National Royalties Fund resources in addition to the reallocation of royalties and negotiated compensation payments in favor of departments and municipalities –as part of a multilayered process-, following territorial development plans as well as the National Development Plan.
Decree 416 of 2007, "by which Law 141 of 1994, Law 756 of 2002 and Law 781 of 2002 are partially regulated and other norms are enacted," established requirements and procedures that must be fulfilled by investment projects presented with a request for resources directed at the National Royalties Fund and of Royalties and resources from negotiated royalties and compensation payments in favor of departments and municipalities –as part of a multilayered process.Agreement 007 of 2006 established the viability requirements and procedures for investment projects in infrastructure intended to distribute and provide the fuel gas public utility service to the 1st and 2nd socio-economic strata.
Agreement 008 of 2006 established the viability requirements and procedures for both local authorities benefiting from mining development projects with specific destination and charged to the National Royalties Fund and implying the reallocation of royalties as well as negotiated compensation payments in favor of departments and municipalities – as part of a multilayered process.
Agreement 022 of 2008 applies to local authorities that have presented investment projects before the Royalties Advisory Council, for the construction, assembly, installation and startup of electrical sector infrastructure as follows: i) Electric energy generation; ii) Public lighting. iii) Power lines for the Regional Transmission System (STR); iv) Electric substations for the Regional Transmission System; v) Distribution networks; and vi) Standardization of user connections.