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.
: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==
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