The gist of the document is resolving the housing problem of servicemen, he noted.
The system is expected to become operational on January 1, 2005 and spread on the graduates of higher military educational establishments, graduates of military schools and institutes this year, as well as officers, warrant officers, sergeants and sergeant-majors in active service.
In keeping with the draft law, at the start of the next year personal accounts will be opened for every serviceman to which the state will annually transfer 30,000 roubles (about 1,000 dollars).
Thus, after 20 years each serviceman will have at his disposal up to 650,000 roubles, which is enough to buy a 54-square-meter apartment, experts expect.
Volodin said that about 60,000 servicemen would annually participate in the mortgage crediting programme.
He specified that warrant officers, sergeants and sergeant-majors will get mortgage credits, following three years of successful service, on concluding a prolongation of the contract.
Volodin said that the rank and place of residence would not effect the amount annually transferred by the state to the personal accounts of servicemen.
