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      Archive: 8/1/2011
      20:44
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      News Brief

        8/1/2011, Av 1, 5771

      ILA Retirement Law Passes


      The Knesset on Monday night approved on its second and third reading a law that formalizes the retirement benefits of Israel Lands Administration workers. The law is a a key part of the reform of the ILA that the government has been seeking, allowing it to downsize the organization and change its mission.

      The law passed by a vote of 46 in favor and 3 against, after going through a two year legislative process. Finance Minister Yuval Steinitz praised the law, saying it was a key element in the lowering of housing prices, by “releasing hundreds of thousands of Israeli citizens and tens of thousands of business owners from the slavery of bureaucracy.”