nÃo hà / O estudo investiga o efeito da mudanÃa nas regras do cÃlculo da cota parte do ICMS sobre os investimentos das prefeituras cearenses, nas Ãreas de ensino fundamental e saÃde. Um painel com 171 municÃpios cearenses com dados anuais entre 2006 e 2010 deu suporte à estimaÃÃo de modelos economÃtricos que permitiram constatar um impacto positivo e crescente sobre a evoluÃÃo dos repasses de recursos Ãs Ãreas supracitadas a partir a data de promulgaÃÃo da Lei 14.023/07. Controlando pelo ICMS transferido aos municÃpios, os resultados sugerem a eficÃcia da referida Lei em ampliar os investimentos nestas Ãreas sociais. / The study it investigates the effect of the change in the rules of the calculation of the quota has left of the ICMS on the investments of the pertaining to the state of Cearà city halls, in the areas of basic education and health. A panel with 171 pertaining to the state of Cearà cities with annual data between 2006 and 2010 gave support to the esteem of econometrical models that had allowed to evidence a positive and increasing impact on the evolution of the views of resources to the above-mentioned areas to break the date of promulgation of Law 14.023/07. Controlling for the ICMS transferred to the cities, the results suggest the effectiveness of the cited Law in extending the investments in these social areas.