Plans have appeared in the State Duma make changes to the use of maternity capital funds. They include the possibility of directing these funds for individual housing construction through the mechanism of escrow accounts. The amendments, which are planned to be adopted at the meeting on May 28, provide for this possibility.
In November 2023, the State Duma adopted a bill expanding the use of escrow accounts to the field of individual housing construction.
According to the proposed changes , maternity capital funds can be used for the construction of a residential building under a construction contract using an escrow account. These funds will be sent to an escrow account, the counterparty of which will be the organization or individual entrepreneur carrying out the construction of the house.
In addition to this, the amendments provide for a mechanism for the return of maternity capital funds in the event of termination of the escrow account agreement. According to Sergei Kolunov, a member of the State Duma Committee on Construction and Housing and Communal Services from the United Russia faction, these changes are designed to provide additional protection for families using maternity capital in the construction of individual residential buildings through the escrow mechanism.