Debt Ceiling Act, 654: Difference between revisions
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MivodHlaja (talk | contribs) (Created page with "''In order to save the Republic from default and prevent such a scenario in the future, it is necessary to drastically reduce the government's expenses and set the upper limit of the allowed public debt.'' <br> ''ACTIONED on ## month ####, ## Aye, ## Nay, ## Abstain.'' ==Article One - Debt Ceiling== :1.1 - The maximum allowed amount of debt of the Kodiak Republic is 150% of its GDP. :1.2 - Any bill, the financing of which will lead to exceeding this permitted maximum,...") |
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:1.2 - Any bill, the financing of which will lead to exceeding this permitted maximum, has no legal force. The Kodiak budget is monitored by the Ministry of Revenue and Treasury.
:1.3 - The Minister of Revenue and Finance, when discussing bills falling under the scope of clause 1.2 of this bill, must issue a warning to the General Assembly about exceeding the permissible maximum by the bill under discussion.
''Tabled by von Zeppelin, MGA, CKA, as an independent member's bill.
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