State Duma adopts bill on mortgage compensation for multi-child families
MOSCOW, June 19 (RAPSI) – The State Duma adopted an initiative on mortgage compensation for multi-child families in a final third reading on Wednesday.
The bill was submitted by the State Duma Chairman Vyacheslav Volodin and Chair of the Federation Council Valentina Matviyenko in May.
Under the draft law, families will receive 450,000 rubles ($7,000) from the state for discharge of a mortgage in event of the birth of a third or next following baby.
The bill will have retroactive force. Thus, families given birth to a third or next following baby in 2019 would receive the compensation.
The draft law has been drafted in pursuance of a presidential address. Vladimir Putin has set out to help multi-child families in mortgage repayments.