States and cities propose transition for oil revenue gains

Nineteen states and municipalities propose a seven-year transition to gain from oil production revenue. The proposal, supported by the National Confederation of Municipalities, seeks progressive transfer of funds to oil-producing regions starting in 2027. The Supreme Court will rule on the matter in May. This initiative aims to implement a 2012 law on royalty and special participation sharing, which was suspended by a provisional court decision in 2013.