- Joined
- Jan 12, 2023
- Messages
- 17
- Thread Author
- #1
A
Bill
To
Amend the Commission Expansion Act of 2021
The people of the Commonwealth of Redmont, through their elected Representatives and Senators in the Congress and the force of law ordained to that Congress by the people through the constitution, do hereby enact the following provisions into law:
1 - Short Title and Enactment
This Act may be cited as the "Commission Expansion Amendment".
This Act shall be enacted immediately upon its signage.
This Bill was authored by Izzibaby.
This Bill has been co-signed by: Representative Ko531, Senator VanillaChai79, CRB Governor Aezal, and DoC Secretary Pugsy.
2 - Reasons
Congress has long ago passed a stagnant percentage of commission that has affected business owners small and large, through numerous different economical positions. Yet, the regulation and advisory to financial decisions for the commonwealth have long been guided by the Commonwealth Reserve Bank (CRB). This amendment builds on top of the CRB, putting them in the position to set and decide the minimum commission rate for business. Giving easier control for change during different economic times, for the better of the Commonwealth.
3 - Amendments
The Commission Expansion Act of 2021 will be updated to reflect the following changes:
(1) Section 3 of the Commission Expansion Act of 2021 shall be amended as follows:
Bill
To
Amend the Commission Expansion Act of 2021
The people of the Commonwealth of Redmont, through their elected Representatives and Senators in the Congress and the force of law ordained to that Congress by the people through the constitution, do hereby enact the following provisions into law:
1 - Short Title and Enactment
This Act may be cited as the "Commission Expansion Amendment".
This Act shall be enacted immediately upon its signage.
This Bill was authored by Izzibaby.
This Bill has been co-signed by: Representative Ko531, Senator VanillaChai79, CRB Governor Aezal, and DoC Secretary Pugsy.
2 - Reasons
Congress has long ago passed a stagnant percentage of commission that has affected business owners small and large, through numerous different economical positions. Yet, the regulation and advisory to financial decisions for the commonwealth have long been guided by the Commonwealth Reserve Bank (CRB). This amendment builds on top of the CRB, putting them in the position to set and decide the minimum commission rate for business. Giving easier control for change during different economic times, for the better of the Commonwealth.
3 - Amendments
The Commission Expansion Act of 2021 will be updated to reflect the following changes:
(1) Section 3 of the Commission Expansion Act of 2021 shall be amended as follows:
3 - Defining and Establishing Minimum Commission
(1) Minimum Commission is defined as “a percentage of value or amount of money that is paid to a supplier.”
1. Suppliers are individuals who sell goods to a business or corporation to supply their stock.
(2) The Commonwealth Reserve Bank (CRB) will be in charge of deciding the minimum commission rate. Any change in the percentage by the CRB will require the DOC Secretary's approval as an added level of certainty and clear understanding, as to what percentage they'll be enforcing.
(3) The minimum commission rate set at which a supplier shall receive is 50% the percentage set by the CRB, of the sales price set by the business or corporation.
(4) All businesses, registered and unregistered, must pay a the minimum commission rate of 50% set by the CRB.
(5) Businesses that have an established wage system are excluded from having to apply a minimum commission.
If a business uses a wage system, they must explain how much they are paying their employees for the amount of time they work or for the number of items that they supply.
Businesses with a hybrid system of paying wages and commission are not excluded from the minimum commission rate of 50%.
(6) The Minimum Commission rate of 50% will only be applied to chest-shops.
(7) At the request of the CRB, the senate may change the minimum commission rate via a motion that must reach a majority to pass to a rate requested by the CRB.
(2) Section 4, Subsection 1, of the Commission Expansion Act of 2021 shall be amended as follows:4 - Department of Commerce Enforcement and Responsibilities
(1) The Department of Commerce (DOC) will be in charge of enforcing and approving the minimum commission rate of 50% set by the CRB.
(3) The Commonwealth Reserve Act will be updated to reflect the following changes:
(1) Section 10 of the Commonwealth Reserve Act shall be amended as follows:
10 - Vested Powers
(1) The following powers are entrusted to the Commonwealth Reserve Bank:
(a) Determining Redmont’s Monetary Policy.
(b) Minting, introducing, and distributing currency.
(d) Determining Government interest rates for government loans, bonds, and other Government guaranteed securities.
(e) Determining the starting balance of new players.
(f) Determining the reward rate for server voting.
(g) Determining universal contract structures for securities.
(h) Determining universal formats for securities.
(i) Determining Government wage bracket values.
(j) Strategically acquiring, holding, and disposing of property, items, and or commodities.
(k) Determining the reserve ratio for deposit taking institutions.
(l) Determining resource requirements for major government events
(i) I.e. Waging war will cost the Government 64 Iron Blocks per day.
(m) Determining the Minimum Commission Percentage for businesses.