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Mendoza Files State Overhaul Bill To Close FTyC, Reshape Casinos, Attract Investment

Officials frame the shift as a cheaper way to get credit to small firms.

Overview

  • The Cornejo administration filed the package in the Legislature Thursday, with lower-house committees set to open debate next week.
  • The plan dissolves the Fondo para la Transformación y el Crecimiento after its capital fell to near zero and replaces state loans with bank credit backed by interest subsidies and stronger guarantees.
  • The bill authorizes a reorganization of the provincial casino operator after the March 11 fire in San Martín and as some venues fail to cover even a third of their costs.
  • Mendoza moves to join the national Medium-Size Investment Incentive Regime (RIMI), offering 10 years of provincial tax stability and added perks to draw projects from local and foreign investors.
  • The proposal orders a cleanup of assets from the 1990s bank privatizations by writing off uncollectable debts and lifting long-dormant mortgages so idle properties can return to use.