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Bill: LDP-3: [RP LAW]: [Normal Law]: Luthorian Investment Fund
Details
Submitted by[?]: Liberal Democratic Party 🌄
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: November 4501
Description[?]:
| Preamble:- Recognising 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 stabilise our economy. Article 1: The Luthorian Investment Fund. There shall be an expenditure fund which will act as the balance of the National Budget in the event that oil prices were to drop to detrimental levels, whose name shall be "The Luthorian Investment Fund" and its aim should be as follows (a) to insulate the domestic economy from large influxes of revenue, as from commodities such as oil, mineral resources and services. Article 2: The Luthorian Investment Fund and Accumulation Policy The Luthorian Investment Fund shall accumulate revenue from the following:- (a) Export Duty for Oil and Petrochemicals (which a Duty tax of 10%) (b) Oil Extraction Operations (As apart of the Trans-National Oil Mining Taxation Act) (c) 12% of the Government Surplus (Every Two Fiscal Terms) (d) Export Duty for Refined Mineral Products and Raw Material (which a duty tax of 5%) Article 3: Luthorian Investment Fund and Investment Policy The Luthorian Investment Fund shall be governed by the Central Bank and asset management being left to the Internal Debt Management Service 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 10 Billion LPD, which is defined as how much the fund is to accumulate at the end of each biannual fiscal term. (a) From the Export Duty for Minerals, Oil and Petrochemicals:- 7 Billion LPD (b) Oil Mining Operations:- 1 Billion LPD (c) Heavy Industry Services Tax:- 2 Billion LPD 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 State Treasury for the same purposes. Article 6: Luthorian Investment Fund - International The Luthorian Investment Fund shall have a global arm which should act as an international investor. The Fund shall invest into companies and industries across Terra using:- (a) The Surplus wealth of the Agricultural, Heavy Industry and Manufacturing Sector combined. (b) 2% of Government Net Investment annually. This is a normal law and as such it can be amended/abolished with an absolute majority by the Stortinget. |
Proposals
Debate
These messages have been posted to debate on this bill:
| Date | 11:30:55, December 15, 2018 CET | From | Liberal Democratic Party 🌄 | To | Debating the LDP-3: [RP LAW]: [Normal Law]: Luthorian Investment Fund |
| Message | Mr. Speaker, I open the floor for debate on this legislation. Lily-Mae Fishburn MD for New Salem West Liberal Democratic Party |
| Date | 20:55:31, December 15, 2018 CET | From | Democratic Republican Party (DRP) | To | Debating the LDP-3: [RP LAW]: [Normal Law]: Luthorian Investment Fund |
| Message | Mr. Speaker, It will be the utmost honor of the Democratic Republicans to support this bill. It is critical that we establish fail safes to protect our economy from danger. John Fairfield MP for Fort William Central Chief Whip of the DRP |
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Voting
| Vote | Seats | |||||
| yes |
Total Seats: 514 | |||||
| no | Total Seats: 0 | |||||
| abstain | Total Seats: 86 |
| Random fact: Don't vote yes on a cabinet coalition that doesn't give you the power that you deserve. |
| Random quote: "Capitalism and communism stand at opposite poles. Their essential difference is this: the communist, seeing the rich man and his fine home, says: 'No man should have so much.' The capitalist, seeing the same thing, says: 'All men should have as much.'" - Phelps Adams |