Economic Recovery Package, 651: Difference between revisions
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::''The purpose of this bill is to facilitate economic recovery following the war with TGN. This shall be achieved by adopting a monetary policy of quantitative easing that will increase the liquidity of the market, which promotes economic activity. With the reacquisition of the Darrent, this bill will hasten and
''*Take Note: Assembly members requested that each act be voted on separately. All acts but the Quantitative Easing Act were approved.''
==Article 1: Quantitative Easing==▼
:1.1 - The Central Bank shall establish a monetary policy of mild quantitative easing. The Treasury shall create 12.1 billion new florins which the Central Bank shall use to start buying a small number of long-term bonds spread over the largest financial institutions in Kodiak.▼
- The Quantitative Easing Act has FAILED in the assembly by a vote of 8 Aye, 8 Nay and 2 abstaining.
:2.1 - The Ministry of Commerce shall issue a government subsidy to mining companies to hasten the establishment of long-term rare earth metal mining operations in the Darrent. They will also issue subsidies for the research and development of renewable energy infrastructure.▼
- The Mining and Energy Expansion Act has PASSED by a vote of 9 Aye, 7 Nay and 2 abstaining.
:2.2 - A total of 1,200 million florins shall be allocated quarterly by the Ministry of Commerce to fund these mining subsidies.▼
:2.3 - These mining subsidies shall first and foremost go towards establishing proper ventilation and waste disposal systems on mining sites and facilities.▼
- The Foreign Investment Expansion Act has PASSED by a vote of 8 Aye, 7 Nay and 2 abstaining.
:2.4 - A total of 243 million florins shall be allocated quarterly by the Ministry of Commerce to fund renewable energy subsidies.▼
- The Intellectual Copyright Protections Act has PASSED by a vote of 10 Aye, 4 Nay and 2 abstaining.
:3.1 - The Ministry of Commerce shall issue tax credits to foreign investors willing to invest money into Kodiak. A foreign investor is any foreign individual or private entity who has invested at least 1,00,000 florins worth of assets or cash into the Kodiak economy.▼
- The Foreign Investment Regulation Act has PASSED by a vote of 10 Aye, 5 Nay and 4 abstaining.
:3.2 - The National Patent Office (NPO) shall be created under the Ministry of Law & Order to review, protect, and enforce intellectual copyright inside the Kodiak Republic.▼
:3.3 - The Ministry of Law shall enact intellectual copyright protections laws. All international copyrights shall be recognized and enforced by the NPO.▼
:3.4 - A total of 600 million florins shall be allocated quarterly by the Ministry of Commerce to fund foreign investor tax credits.▼
====Article 1:====
▲<s>:1.1 - The Central Bank shall establish a monetary policy of mild quantitative easing. The Treasury shall create 12.1 billion new florins which the Central Bank shall use to start buying a small number of long-term bonds spread over the largest financial institutions in Kodiak.
:1.2 - After 12 months from implementation, this article will be automatically removed unless the General Assembly wishes and votes to renew it.</s>
==Mining & Energy Expansion Act==
==== Article 1:====
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:1.5 - Renewable energy consists of wind, solar, hydro, and nuclear power. This funding will only be used to create renewable energy facilities, by any legal means.
== Foreign Investment Expansion Act ==
==== Article 1:====
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== Intellectual Copyright Protections Act ==
==== Article 1: ====
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== Foreign Investment Regulation Act ==
====Article 1:====
:1.1 - A foreign investor is defined with the same definition in clause 1.1 of the Foreign Investment Expansion Act.
==== Article 2:====
:2.1 - The Foreign Investment Council (FIC) shall be created under the Ministry of Revenue & Treasury. It is the FIC's responsibility to:
:: 2.1.1 - Create and review goals investors have to meet to be eligible for tax credits defined in the Foreign Investment Expansion Act.
::2.1.2 - Review the eligibility of foreign investors who want to apply for tax credits according to the goals defined by the FIC.
::2.1.3 - Organizing the tiers of restrictions on the amount of foreign investment in any company, sectors or industry in accordance with clause 2.2.
:2.2 - The organization of restrictions on foreign investment in specific sectors (sectors can mean anything from entire industries to specific companies) will be defined in these following tiers:
::2.2.1 - Tier 1: Heavily restricted sectors. Sectors of the economy which are completely off limits to foreign investment (unless specified in specific treaties or bills).
::2.2.2 - Tier 2: Well-regulated sectors. Sectors of the economy which are limited in how much foreign investment can be consisted of their total equities. Foreign investments can not go over 25% of the total amount of equities in the sector.
::2.2.3 - Tier 3: Mildly-regulated sectors. Sectors of the economy which are limited in how much foreign investment can be consisted of their total equities. Foreign investments can not go over 49% of the total amount of equities in the sector.
::2.2.4 - Tier 4: Unregulated sectors. Sectors of the economy which have no regulation on the amount of foreign investment they can receive.
: 2.3 - These specific sectors shall be defined in accordance with clause 2.2:
::2.3.1 - Tier 1: The defense industry and mining industry.
::2.3.2 - Tier 2: The agriculture industry, rail infrastructure, port infrastructure, airport infrastructure, and the transportation industry.
::2.3.3 - Tier 3: The healthcare industry, energy industry, real estate industry, and news outlets.
::2.3.4 - Tier 4: All sectors not previously defined in clause 2.3.
''Written and Proposed by Erich Crysler, MGA, Independent.''
__NOTOC__
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