Employee Stock Ownership Act, 654

From The Kodiak Republic Wiki

In order to further empower employees, provisions must be made to increase their stock ownership
ACTIONED on ## month ####, ## Aye, ## Nay, ## Abstain.

Article One - New Capitalism Program

1.1 - The Ministry of Labor and Commerce (hereinafter - simply the Ministry) the program "New Capitalism" is being created.
1.2 - To be included in the New Capitalism program, an enterprise must submit an application to the local branch of the Ministry, after which the enterprise, at the discretion of the Ministry, is included or not included in the program.
1.3 - For enterprises in the New Capitalism program, the Ministry is obligated to:
1.3.1 - Reduce the tax rate by one quarter for 10 years.
1.3.2 - Pay the share holders of the enterprises 1.25 times the value of their shares.
1.4 - Enterprises in the New Capitalism program are required to:
1.4.1 - Equally distribute all shares of the company among the employees of this company.
1.4.2 - Hold a shareholder's meeting at least once a year.
1.5 - In case of non-fulfillment of their duties, a fine of 1% of the value of the enterprise is imposed on the enterprise. The fine increases three times for each repeated violation.
1.6 - The Ministry shall recieve 5 billion Florins once every three years for the purposes of funding the New Capitalism Program until 26 years have passed.

Tabled by von Zeppelin, MGA, CKA, as an independent member’s bill.

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