Tthe new Copernicus Regulation passed the European Parliament on 12 March 2014. The EU’s Earth Observation Programme Copernicus will provide valuable data for various environmental and security applications and decisions. The Regulation ensures the further development of the programme and defines objectives, governance and funding in the amount of EUR 4.3 billion for Copernicus in 2014-2020. As a next step, the Regulation will have to pass the Council as well.
See here for the texts adopted and accompanying documents.
For further information, see the press release of the European Commission.