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The Verkhovna Rada, Ukraine's parliament, has passed Bill No. 3377 to amend certain legislative acts for state support of culture, creative industries, tourism, as well as small- and medium-sized businesses over the restrictive measures related to the spread of coronavirus (COVID-19).

The draft law passed second reading on May 16, having been backed by 343 MPs with at least 226 votes required, according to an UNIAN correspondent.

Main provisions of the draft law include a decrease in property rent fees at the request of a tenant (cultural institution) engaged in commercial activity using said property for the period when such property could not be used for such activity, the explanatory note said.

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Television and radio organizations and program service providers using radio frequencies are also temporarily exempted from paying 50% of the cost of services by the Broadcasting, Radio Communication and Television Concern pending the quarantine period and until December 31, 2020.

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Moreover, additional opportunities have been provided for radio operations through the amendments to the law of Ukraine on advertising.

The bill, among other things, proposes introducing institutional support for legal entities engaged in culture and art to ensure their stable operation, including under the conditions of business restrictions introduced in keeping with the law due to an emergency or state of emergency.

Also, the draft law envisages the state support for cinematography in the form a state subsidy for the development of film projects in the amount of up to 100% of their total estimated cost.

It is noted that business entities engaged in culture, creative industries, and tourism might post from UAH 5.8 billion to 8.7 billion (US$216 million – US$324 million) in losses within the period from March 16 to May 1, 2020.