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Bill: RP: Law "On Management of the Sovereign Wealth Funds"
Details
Submitted by[?]: 17 Marta Komitet (17MK)
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: October 4752
Description[?]:
| This act of the State Duma on the 20th day of February in the year of 4752 proposed what was already proposed on the 15th day of October in the year of 4710 hereby does proscribe the below as the Law "On Management of the Sovereign Wealth Funds" in the name of the Trigunian Federation and the People of Trigunia: Section 1 - Sovereign Wealth Fund Management (a) Merges and ceases operations of the State Reserve Fund (previously of the State Bank of Trigunia) ($10b LOD), the International Development Fund (previously of the Trigunian Investment and Development Bank) ($50b LOD), Sovereign Wealth Fund (previously of the Trigunian Investment and Development Bank) ($100b LOD) and the Eastern Development Bank ($25b LOD) into the Federal Reserve Fund and the new International Development Fund totaling $185b LOD; (b) Places $100b LOD into the newly created International Development Fund of the Ministry of Finance; (c) Places $85b LOD into the newly created Federal Reserve Fund of the Bank of Trigunia; Section 2 - Federal Reserve Fund of the Bank of Trigunia (a) Creates the Federal Reserve Fund (Федеральный резервный фонд; tr. Federal'nyy rezervnyy fond; FRF) of the Bank of Trigunia (Bank Trigunii) also known as the Federal Bank of Trigunia; (b) Provides for the government of Trigunia to commit 50% of government surpluses to the Federal Reserve Fund; (c) Provides for the government of Trigunia to commit 25% of oil and natural gas profits to the Federal Reserve Fund; (d) Establishes that the President of the Trigunian Federation (or successive heads of state), President of the Bank of Trigunia or the Minister of Finance may with approval of the State Duma (or successive legislature) provide funding for domestic matters or in rare and exceptional cases foreign matters as necessary; Section 3 - International Development Fund of the Ministry of Finance (a) Creates the International Development Fund (Фонд международного развития; tr. Fond mezhdunarodnogo razvitiya; FMR) of the Ministry of Finance; (b) Provides for the government of Trigunia to commit 50% of government surpluses to the International Development Fund; (c) Provides for the government of Trigunia to commit 75% of oil and natural gas profits to the International Development Fund; (d) Establishes that the President of the Trigunian Federation (or successive heads of state), the Minister of Finance or the Minister of Trade and Industry may with notification of the State Duma (or successive legislature) provide funding for both domestic and foreign matters as necessary; Section 4 - Amendments to the Law (a) Amendments to the above law may be permitted by a simple majority of the State Duma (or successive legislature). |
Proposals
Debate
These messages have been posted to debate on this bill:
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| Vote | Seats | |
| yes |
Total Seats: 450 | |
| no | Total Seats: 0 | |
| abstain | Total Seats: 0 |
| Random fact: Jelbic = "Group of cultures with an overall Central Asian/Eurasian steppe theme, using a fictional language developed specifically for Particracy". |
| Random quote: "Democracy is a pathetic belief in the collective wisdom of individual ignorance." - H. L. Mencken |