Public Transportation Reorganization and Coordination Act: Difference between revisions
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Public Transportation Reorganization and Coordination Act (view source)
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# The bus transportation services of the National Motor Vehicle Service (NMVS) will undergo a process of transition to a Public Private Partnership, sharing ownership, budget, revenue and management by 50% from the public sector with other private entities, each managing its share in one region.
# It will be allowed for private companies to apply for licenses to operate bus, air, and rail services in all current and future public routes, while ensuring fair competition and equal opportunity for all bidders.
# The cost of license shall be determined by the STCA depending on the scale of operations for each private business.
# Issued licenses will need renewal each 5 years or less if said private entity is suspected of violation of national safety and service standards.
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# Private companies must adhere to national safety standards for all transportation services determined by the Ministry of Transportation. Surprise regular inspections and audits by the STCA shall be done so the standards are followed thoroughly in order to provide a safe service.
# Set maximum fare limits decided between the STCA and private entities
=== Section 5: Financial Framework ===
# Offer tax incentives for private companies investing in green and sustainable transportation technologies such as transportation using only renewable energy and financially supporting research of said technologies reducing the Capital Gains Tax to
# Offer tax incentives for the following two years in order to promote the private sector entrance to the industry, reducing the Capital Gains Tax to 10% and
# Offer tax incentives for private companies who support research projects on new transportation technology reducing the Capital Gains Tax to
=== Section 6: Monitoring and Evaluation ===
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