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 incentivize the mining and extraction of rare earth metals such as bauxite via mining subsidies. Measures regarding increasing Kodiak’s energy efficiency and decreasing our oil dependency via renewable energy subsidies will improve our economy and our environment. Perhaps the most ambitious and important part of this bill is its effort to increase foreign investment inside the Kodiak Republic; this shall be achieved via foreign investment tax credits and protection of international intellectual property rights. This package will include multiple acts which will be located in their respective department.''
''*Take Note: Assembly members requested that each act be voted on separately. All acts but the Quantitative Easing Act were approved.''
- The Quantitative Easing Act has FAILED in the assembly by a vote of 8 Aye, 8 Nay and 2 abstaining.
- The Mining and Energy Expansion Act has PASSED by a vote of 9 Aye, 7 Nay and 2 abstaining.
- The Foreign Investment Expansion Act has PASSED by a vote of 8 Aye, 7 Nay and 2 abstaining.
- The Intellectual Copyright Protections Act has PASSED by a vote of 10 Aye, 4 Nay and 2 abstaining.
- The Foreign Investment Regulation Act has PASSED by a vote of 10 Aye, 5 Nay and 4 abstaining.
==The Quantitative Easing Act==
====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.
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==Mining & Energy Expansion Act==
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:1.4 - A total of 243 million florins shall be allocated quarterly by the Ministry of Commerce to fund renewable energy subsidies.
: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:====
:1.1 - The Ministry of Revenue & Treasury 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 1,000,000 florins worth of assets or cash into the Kodiak economy.
:1.
:1.2 - 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.▼
: 1.3 - The Ministry of Law shall enact intellectual copyright protections laws. All international copyrights shall be recognized and enforced by the NPO.▼
== Intellectual Copyright Protections Act ==
▲:1.4 - A total of 600 million florins shall be allocated quarterly by the Ministry of Revenue & Treasury to fund foreign investor tax credits. The allocation of tax credits shall be overseen and independently determined by the FIC created in Foreign Investment Regulation Act.
==== Article 1: ====
▲:1.
▲: 1.
==
====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:====
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