ADVERTISEMENT

House passes law on farmland earmarked for compensation

Initiatives

The Hungarian Parliament today passed legislation on the transfer of ownership of farmland reserved as compensation for former landowners and cooperative members, Hungarian news agency MTI reported.

The law was approved today after President János Áder earlier returned the legislation to Parliament, expressing concerns over the lawʼs failure to clearly define the scope of the farmland in question, allowing, in principle, the state to take over free of charge any land farmed by cooperatives not previously designated for compensation funds.

The law stipulates that farmland taken over by the state is to be offered in ongoing sales of land to local farmers.

The law also repealed earlier legislation allowing former cooperative members to purchase farmland using compensation coupons, thus bringing the compensation process to a conclusion.

The law was approved with 114 voting in favor and 56 voting against the measure, with no abstentions.

ADVERTISEMENT

Digitization, sustainability among characteristics of future... Analysis

Digitization, sustainability among characteristics of future...

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

Transformation Delineation - Microsoft country general manag... Podcasts

Transformation Delineation - Microsoft country general manag...

Most districts not planning mandatory vaccination at kinderg... City

Most districts not planning mandatory vaccination at kinderg...

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.