The draft law has been prepared based on the results of the referendum held in Crimea on March 16, 2014.
The draft law is to set the territorial boundaries of the Republic of Crimea and the federal city of Sevastopol; recognise citizens of Ukraine or stateless persons permanently residing on the territory of the Republic of Crimea or Sevastopol as citizens of the Russian Federation; form government authorities in the new constituent entities of the Russian Federation and regulate the activity of local self-government bodies on their territories. The draft law is also designed to resolve other issues pertaining to the integration of the Republic of Crimea and Sevastopol into the economic, financial, lending and legal systems of Russia. For these purposes, it introduces a transition period, which is to begin on the day the Republic of Crimea is accepted into the Russian Federation and new constituent entities are created, and last until January 1, 2015.
The provisions of the draft law take into consideration the principles of the federal form of government in the Russian Federation, the rights and freedoms of an individual and a citizen, as well as the established historical and cultural ties between regions of the Russian Federation, their socioeconomic capabilities.
The costs related to the implementation of the Federal Constitutional Law will be covered from the federal budget.