not refer the draft law back to the House of Representatives within this period, the draft law shall
be deemed a Law and shall be issued.
If the draft law is referred back to the House of Representatives within the aforementioned
period and approved again by a majority of two-thirds of its members, it shall be deemed a Law
and shall be issued.
Article (124)
The State budget shall include all of its revenues and expenditures without exception. The draft
budget shall be submitted to the House of Representatives at least ninety (90) days before the
beginning of the fiscal year; and shall not be effective unless approved thereby. Voting thereon
shall be made on a section-by-section basis.
The House of Representatives may alter the expenditures stated in the draft budget, except for
those allocated to honor a specific State liability.
Should such alteration result in an increase in total expenditures, the House of Representatives
must reach an agreement with the Government on the means to procure sources of revenue so as
to restore a balance between both. The State budget shall be issued by a law which may include
an amendment of another existing law to the extent necessary to achieve such balance.
In all cases, the budget law may not include any provision that puts new burdens on citizens.
The Law shall specify the fiscal year, the method of preparing the State budget, and the
provisions of the budgets of public bodies and organizations and their accounts.
The House of Representatives must approve the transfer of any funds from one section of the
State budget to another, as well as any expenditure not included therein or in excess of its
estimate. Such approval shall be issued by a law.
Article (125)
The final accounts of the State budget must be submitted to the House of Representatives within
a period not exceeding six (6) months as of the end of the fiscal year. The annual report of the
Central Auditing Organization (CAO) and the latter’s notes on the final accounts shall be
submitted therewith.
The final accounts shall be put to vote on a section-by-section basis and shall be issued by a law.
The House of Representatives has the right to ask CAO for any additional data or reports.
Article (126)
The Law shall regulate the basic rules for the collection of public funds and the procedures for
their disbursement.
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