Update on the termination of public trusts created by law

July 31, 2020

In relation to our newsletter of June 2^nd, on the initiative presented by MORENA seeking the disappearance of 44 public trusts, the Congress confirmed in the extraordinary session of July 29 that five public trusts were extinguished:

• Trust Program for the Improvement of Information Technology and Control of Customs Authorities.
• Rural Finance Fund.
• National Security Fund for Railway Crossings.
• Trust to Promote the Development of National Energy Industry Suppliers and Contractors
• Social Support Fund for Former Mexican Migrant Workers.

Similarly, the discussion to extinguish other five public trusts was postponed until further notice, that had been listed in the agenda of the extraordinary period.

It is important to mention that the original initiative was modified to maintain, among others, the Investment and Film Stimulus Fund (FIDECINE). Despite this achievement, MORENA is already preparing another bill that will be presented at the next ordinary session of the Chamber of Deputies in September in order to continue with the extinction of the trusts.

The month of September corresponds both to the next ordinary legislative period and to the elections for the President of the Culture and Film Commission of the Congress.

Sergio Mayer, current President of said Commission, has recently received strong criticism from his party for his performance inside and outside the Chamber, which diminishes the chances of his re-election.

Thus, the initiatives presented on April 21 by Deputy Sergio Mayer will remain pending, and the viability and approval of the initiatives will be subject to his re-election.