R&R Act

Rebuilding and Revitalization Act of 667

Whereas, The Kodiak Republic has emerged from a period of civil strife, requiring substantial efforts to rebuild and revitalize its cities and communities;

Whereas, The City of Graz, Crystal City, and the Province of Sjokolade have suffered significant damage and disruption, necessitating immediate attention and resources for their reconstruction;

Whereas, It is imperative to invest in infrastructure, including roads, bridges, utilities, and public services such as schools and hospitals, to restore normalcy and promote economic growth in the affected regions;

Whereas, To incentivize investment and spur economic activity, a temporary tax break for residents and businesses in the targeted areas is deemed necessary;

Whereas, Supporting small businesses and local governments with accessible loans at favorable rates will aid in their recovery and contribute to the overall revitalization effort.

Section 1: Rebuilding Fund Allocation

1.1. The sum of 50 Billion Florins in a span of 2 years shall be allocated to the rebuilding efforts of: The City of Graz: 40% of the total funding - Crystal City: 40% of the total funding. The Province of Sjokolade: 20% of the total funding

1.2. The allocated funds shall be utilized exclusively for the reconstruction of infrastructure, including but not limited to roads, bridges, utilities, schools, and hospitals, in the respective areas.

Section 2: Temporary Tax Break

2.1. A temporary tax break shall be granted to all residents and businesses located within the designated reconstruction zones of The City of Graz, Crystal City, and the Province of Sjokolade.

2.2. The typical business taxes, as defined in the Welch Tax Reform Resolution, 666, shall be reduced from 15% to 10% for a period of 2 years, commencing from the date of enactment of this Act.

2.3. The General Assembly reserves the right to extend the duration of the tax break for up to 5 years, if deemed necessary for the continued recovery and stability of the affected regions.

Section 3: Revitalization Loans

3.1. An additional 50 Billion Florins in a span of 5 years shall be allocated for loans to small businesses and local governments within the reconstruction zones.

3.2. These loans shall carry an annual interest rate of 2%, and the principal amount shall only be used for activities aimed at revitalizing the communities affected by the civil war, including but not limited to infrastructure development, business recovery, and public services enhancement.

Section 4: Implementation and Oversight

4.1. The Ministry of Revenue and Treasury shall be responsible for the implementation and disbursement of funds as outlined in this Act.

4.2. The Ministry shall establish transparent mechanisms for monitoring and evaluating the utilization of allocated funds and loans, ensuring accountability and effectiveness in the rebuilding and revitalization process.

Section 5: Sunset Provision

5.1. This Act shall remain in effect until all allocated funds have been fully utilized for their intended purposes, or until repealed or amended by subsequent legislation.

5.2. Upon the expiration of the tax break period specified in Section 2, the Welch Tax Reform Resolution, 666, shall revert to its original provisions regarding business taxes in the affected regions.

Written by Joseph Dean Fala, DPPK, MGA