Regulates the organization, powers and functioning of local self-government in Ukraine, its guarantees, activities, as well as the legal status and responsibility of all its bodies and officials.

Article 28 of this law, “Powers in the field of budget, finance and prices” (9.3.), defines one of the powers delegated by the state as “promotion of investment activity”.

The law is quite useful in the context of funding by territorial communities, as it establishes local community funds and provides for public control over their activities.