The Foreign Affairs and National Defense Committee of Brazil’s Chamber of Deputies has approved a proposal to allocate proceeds from the sale of the Armed Forces’ movable property and real estate to the Ministry of Defense. The text is the version prepared by the rapporteur, Deputy General Pazuello, of a bill introduced by Deputy Fernando Monteiro.
Under the text, only assets that no longer serve the needs or strategic interests of the Armed Forces could be sold. Of the proceeds, 80% would be reserved for the branch responsible for the sale. The funds would be allocated to investments and initiatives to strengthen defense capabilities, with joint management by the ministry, the Army, the Navy and the Air Force.
The proposal also provides for spending financed with these proceeds to be excluded from the spending cap. The text will still be reviewed by two committees and put to a vote by the full chamber. To become law, it must be approved by the Chamber of Deputies and the Senate.