Complementary Law No. 101/2000 — Fiscal Responsibility Law

Lei Complementar nº 101, de 4 de maio de 2000 — Lei de Responsabilidade Fiscal (LRF)

Overview

Cornerstone fiscal-governance statute binding the Union, states, the Federal District and municipalities to planned, transparent fiscal management. It imposes fiscal targets, debt and personnel-expense limits, rules on the creation of continuing expenditure and on revenue waiver, and disclosure requirements. For public investment it constrains the fiscal space available for capital spending, requires that new continuing obligations be offset, and governs the assumption of debt and guarantees that finance investment projects.

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