L 55/56 Official Journal of the European Union 1.3.2003 COMMISSION COMMISSION DECISION of 22 August 2002 on the tax measures for banking foundations implemented by Italy C 54/2000/EC (ex NN 70/2000) (notified under document number C(2002) 3118) (Only the Italian text is authentic) (Text with EEA relevance) (2003/146[EC) THE COMMISSION OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Commu- nity, and in particular the first subparagraph of Article 88(2) thereof, Having called on interested parties to submit their comments pursuant to the provision cited above and having regard to their comments ('), Whereas: I. PROCEDURE By letter dated 24 March 1999, the Commission, after receiving a Parliamentary question on the subject, asked the Italian authorities to provide information in order to assess the scope and effects of Law No 461 of 23 December 1998 (hereinafter Law No 461/98). By letters dated 24 June and 2 July 1999, the Italian authorities provided the Commission with information on the Law and on Legislative Decree No 153 of 17 May 1999, which followed it (hereinafter Decree No 153/99). Having examined the information received, the Commis- sion advised the Italian authorities on 23 March 2000 that the aforementioned Law and Decree were likely to contain aid elements and asked them to halt implemen- tation of the measures. By letter dated 12 April 2000, the Italian authorities informed the Commission that they had suspended the implementation of the measures. Further information was provided to the Commission by letter of 14 June 2000. () OJ C 44, 10.2.2001, p. 2. ) () By letter dated 25 October 2000, the Commission informed the Italian Government that it had decided to initiate the procedure laid down in Article 88(2) of the EC Treaty in respect of the aid. The Commission decision to initiate the procedure was published in the Official Journal of the European Commu- nities (3). The Commission invited interested parties to submit their comments on the measure. The Commission received comments from interested parties. On 18 June 2001 it forwarded them to the Italian authorities, which were given the opportunity to react; their comments were received by letter dated 25 July 2001. II. DETAILED DESCRIPTION OF THE AID Law No 461/98 and Decree No 153/99 introduced the following tax advantages for banking foundations: 1. Foundations that alter their statutes in line with the Decree will be designated as non-commercial bodies (Article 12(1) of Decree No 153/99). They will then be entitled to the 50 % reduction in corporation tax (IRPEG) provided for in Article 6 of Presidential Decree No 601 of 29 September 1973 for bodies active in the social assistance, health, education or similar sectors (Article 12(2) of Decree No 153/99). () See footnote 1.