The reform of the Law of the National Flag, National Anthem and Coat of Arms of the Bolivarian Republic of Venezuela, published in the Federal Register on March 9, 2006, modifies the direction and position of the horse that appears in the bottom quarter of the Coat of Arms and incorporates an eighth star on the National Flag.

Evoking the Bolivarian spirit, inspired by the new foundation of the Republic, it was proposed to retake the will of the Liberator Simon Bolivar, who on November 20, 1817, proposed incorporating an eighth star on the National Flag in representation of the Province of Guyana, which at that time had been liberated and incorporated to the Republic of Venezuela.

The National Flag is inspired by the one chosen by the Congress of the Republic in 1811. It is composed of the colors yellow, blue and red, in joint stripes, that are equal and horizontal from the top to the bottom, having in the center the blue stripe, eight white five-point stars, in a convex arch-shaped position facing the top.

The Coat of Arms of the Bolivarian Republic of Venezuela will keep in its body the colors of the National Flag in three sections:

The left section will be red and will contain sheaf of wheat with as many branches as there are states in the Bolivarian Republic of Venezuela, as a symbol of the Nation's wealth and union.

The right section will be yellow and as emblem of victory, will contain a sword, a spear, an arch and an arrow, inside a quiver a machete and two national flags entwined by a crown of laurels.

The third section will be blue, will occupy the entire bottom area of the Coat of Arms and will contain a indomitable white horse, galloping toward the left and facing the front, as an emblem of independence and freedom; adopting for such effect the figure of the horse contained in the Federation's Coat of Arms, dated July 29, 1863.

The Coat of Arms will have for a stamp, as a symbol of abundance, the images of two entwined cornucopias joint in the middle, places horizontally, full of fruits and tropical flowers and in its lateral sides the figures of a bunch of olive leafs to the left and a palm to the right, joint in the center to the Coat of Arms by a band with the three national colors. In the band's blue stripe the following words will be inscribed with golden letters: to the left "April 19, 1810" and "Independence"; to the right "February 20, 1859" and "Federation" and in the center "Bolivarian Republic of Venezuela".