Brussels, 22/12/2000 (Agence Europe) - The European Commission decided not to formulate objections against an Italian draft law foreseeing aids in favour of research and development projects at the pre-competition stage. The draft law modifies an existing regime, in the framework of which a "Fondo Speciale Rotativo per la Ricerca Tecnologica (F.I.T)" had been instituted in 1982. This regime fulfils the conditions set in the Community framework for State aid to research and development.
The budget totals EUR 400 million per year and the regime had a life span limited to ten years. The beneficiaries are as follows: craft companies, industries and services, infrastructure for research used by these companies and public/private group held in majority by companies and including financial intermediaries. Additional aids are granted to the following beneficiaries: SMEs, developmentally depressed regions, projects stemming from the Community framework for State aid to research and development, project associating companies to at least two different Member States and project carried out in cooperation with universities or research bodies.