In half, that is, on 50.000 euros from 100.000 euros που προβλεπόταν αρχικά, μειώνεται τελικά το απαιτούμενο ελάχιστο ύψος του επενδυτικού σχεδίου για τις Social Cooperative Enterprises προκειμένου να ενταχθεί στον Development Law. This is one of the main legislative changes made to the development law which is passed in principle.

Οι περισσότερες βασικές αλλαγές αφορούν στο "ξεκαθάρισμα” των παλαιών επενδυτικών σχεδίων που είχαν ενταχθεί στους προηγούμενους αναπτυξιακούς νόμους και στον χρόνο αποπληρωμής αυτών. Also, the deadline for the completion of investment projects that have been subject to the provisions of Law 3299/2004 is extended until 31/03/2017.If by this date 50% of the approved cost is demonstrably implemented, the completion deadline is extended until 30/06/2018.

Regarding the repayment of old investment projects:

Those who have completed 100% of the projects will be repaid within five years, as opposed to seven years for the rest. Those companies that implement investment plans of up to 300,000 euros and have B' category books, are not obliged to transfer to C' (category), as provided for in the original text.

Development Law - Key changes

1. Entities whose investment projects are subject to the law must, from the time of commencement of work on the investment project, keep C' category books or B' category books for investment projects whose eligible cost does not exceed 300.000 euros As well as separate accounting of the figures, related to the implementation of the project and the terms of the decision of inclusion.

2. Enterprises or business clusters participating in sectoral or local production systems or in individual production value chains may be developed at regional and interregional level. The participation of at least 8 beneficiaries is mandatory in each investment scheme.

3. The deadline for the completion of investment projects that have been subject to the development law of the 2004 and which expires on 31/12/2016, is extended until 31/3/2017. If by this date 50% of the approved cost of the investment project is demonstrably implemented, the completion deadline is extended for an additional 15 months, i.e. until June 30, 2018.

4. With regard to the partial payment of a grant for old investment projects of laws 3299/2004 and 3908/2011, the term annual is deleted.

5. In the legislative changes, it is stated that the second installment equal to the first is paid by submitting a request for control for the certification of the completion and start of the production operation of the investment. The third amount equal to the two previous instalments is paid upon the issuance of a decision to complete the start of production of the investment.

6. The remaining amount of the grant shall be paid in 4 equal annual instalments from the following year after the publication of the decision to complete and start the productive operation of the investment.

7. If a decision is taken to complete and start production operation without the operator of the investment project having received any amount of aid, a grant amount equivalent to 3/7 of the total amount shall be granted upon the adoption of the decision to complete and start the productive operation of the investment. The remaining amount is paid in 4 annual installments from the following year of the payment of 3/7.

8. For investment projects for which an amount of grant or advance payment has been paid before the adoption of the decision to complete and start their productive operation, the following shall apply:

a. If the amount exceeds the amount corresponding to 2/7 of the total grant amount, the remaining amount shall be paid in 5 annual instalments. Starting with the adoption of the decision to complete and start the production operation.
b. If the amount is less than the amount corresponding to the percentage of 2/7 of the total amount of the grant, the remaining amount shall be paid in 5 annual instalments. While the first installment is increased by the remaining amount up to the rate of 2/7.

9. If the decision to complete and start the productive operation of the investment specifies an amount of aid of less than EUR 20 000 or if the last instalment is less than the limit of EUR 20 000, it shall be paid once.

10. By decision of the Minister for Economy, the 5th, 6th and 7th instalments may be merged for investment projects whose entities are not large enterprises and the remaining amount of aid does not exceed EUR 500 000.

11. The amount of the advance payment is returned with interest at the request of the investor. The amount of the corresponding interest (s.p. is defined in the average of 2016) is calculated from the date of granting the advance payment until the date of submission of the refund application.