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Bill: "P.I. 4122 - Economic Stability Fund Act"
Details
Submitted by[?]: Nasjonalt Arbeiderparti 🌹
Status[?]: passed
Votes: This bill is a resolution. It requires more yes votes than no votes. This bill will not pass any sooner than the deadline.
Voting deadline: December 4122
Description[?]:
Preamble:- Recognizing our oil-based economy is in danger of decrease due to the loom of falling oil prices in the northern hemisphere, it has come to our attention that a fail-safe be formed in order to stabilize our economy. Article 1: The Stabilization Fund of the Kingdom of Kazulia. There shall be an expenditure fund which will act as the balancer of the State Budget in the event that oil prices were to drop to detrimental levels, whose name shall be "The Stabilization Fund of the Kingdom of Kazulia" and its aim should be as follows (a) to insulate the domestic economy from large influxes of revenue, as from commodities such as oil. Article 2: The Stabilization Fund of the Kingdom of Kazulia and Accumulation Policy The Stabilization Fund of the Kingdom of Kazulia shall accumulate revenue from the following:- (a) Export Duty for Oil and Petrochemicals (which a Duty Fax of 25%) (b) Oil Mining Operations (As apart of the Trans National Oil Mining Tax Act) (c) 2 Billion of the Government Surplus (Every Fiscal Term) Article 3: The Stabilization Fund of the Kingdom of Kazulia and Investment Policy The Stabilization Fund of the Kingdom of Kazulia shall be governed by the Ministry of Finance and asset management being left to the Central Bank of the Kingdom of Kazulia (Kazul Bank) whose obligations to the fund shall be:- (a) Make accessible the accounts of the National Depository with the Central Bank with return based on indices composed of eligible foreign debt securities. (b) Invest into Foreign Debt Security Advisories/Funds. Article 4: Accumulation Cap. There shall be an established Accumulation Cap of $35 Billion Krona, which is defined as how much the fund is to accumulate at the end of each fiscal term, which is as follows:- (a) From the Export Duty for Oil and Petrochemicals:- 25 Billion (b) Oil Mining Operations:- 8 Billion (c) Fiscal Budget:- 2 Billion Article 5: Evaluation from the Ministry of Finance At the end of each fiscal term, the Ministry of Finance shall release a report documenting the accumulation of investment and revenue towards the fund, as well as the spending of the fund's capital. A special report is to be sent to the Select Committee on Finance and the Treasury monthly in order to document accumulation, investment and spending on a much wider scale. Said report is to also be sent to the Office of the Auditor General of the Kingdom of Kazulia for the same purposes. |
Proposals
Debate
These messages have been posted to debate on this bill:
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Vote | Seats | |||||
yes |
Total Seats: 87 | |||||
no | Total Seats: 0 | |||||
abstain | Total Seats: 48 |
Random fact: When it comes to creating a Cultural Protocol in a Culturally Open nation, players are not necessarily required to provide a plausible backstory for how the nation's cultural background developed. However, the provision of a plausible backstory may be a factor in whether Moderation approves the Cultural Protocol if players in surrounding nations question its appropriateness for their region of the game map. |
Random quote: "Rifles, muskets, long-bows and hand-grenades are inherently democratic weapons. A complex weapon makes the strong stronger, while a simple weapon so long as there is no answer to it gives claws to the weak." - George Orwell |