Act of Congress Economic Standards Act

[GoldBlooded]

A
BILL
To

Provide for Economic Standards and to amend the Constitution.​

The people of the Commonwealth of Redmont, through their elected Representatives 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
(1) This Act may be cited as the 'Economic Standards Act.'
(2) This Act shall be enacted immediately upon its signage.
(3) This Act has been authored by: Sen. Nacholebraa
(4) This Act has been co-sponsored by: Sen. Nacholebraa, Rep. GoldBlooded

2 - Reasons
(1) This Act will form a consolidated law of standards for economic law.
(2) This bill has too many working parts to include in what has been removed, changed, added, etc. There were minor changes to wording and format, which I encourage people to cross-check with the constitution and the below acts of Congress. Where necessary, use a text comparator as well.

3 - Consolidation
The following Acts of Congress will be rescinded:
(a) Commission Expansion Act of 2021 (Link)
(b) Stocks Repossession (Link)
(c) Wages Act (Link)
(d) AE Build Back Stronger Act (Link)
(e) Perm Banned Players Asset Seizure Act (Link)
(f) Non-Profit Act (Link)

4 - Government Wages
(1) There are six levels of salaries provided by the Government.
(a) The Executive has exclusive jurisdiction as to what salary level occupations fall into.
(b) Legislative or Judicial salaries cannot be withheld.
(c) Changes to the salaries of Representatives and Senators take effect following the next election for that chamber.
(d) A Judge's remuneration cannot be decreased without the unanimous consent of that occupation (i.e., All Justices must agree on pay decreases to the Justice occupation)
(2) Salary Levels
(a) Level 0: Commission
(b) Level 1: $45/15min - Leaders of Government Branches; Significant Responsibility, management, and governance.
(c) Level 2: $35/15min - Members of peak bodies within the Government branches; A great amount of responsibility, management, and governance. Additionally, a lot of work off the server.
(d) Level 3: $30/15min - Middle management of departments. A large amount of responsibility, management, and governance. Little work is required of the server.
(e) Level 4: $25/15min - The base rate of Government employees. A small amount of responsibility, no management, and no governance. Little-to-no work is required off the server.
(f) Level 5: $20/15min - A lesser rate where commissions are also present.
(3) Wage Guide
(a) The Executive will maintain a guide on forums called 'Government Pay' that will list Government pay levels and their associated occupations.

5 - Small Business Tax Exemptions
(1) Small Businesses may apply for a tax exemption if they fit the following requirements:
(a) Operate exclusively out of a town.
(b) Are not a non-profit, charity, securities exchange, bank, or credit union
(2) The Department of Commerce may grant tax exemptions to small businesses at their own discretion as long as they fit the requirements. The Department of Commerce may remove these exemptions at any time.
(3) Small Businesses are defined as the following:
(a) A company registered with the Department of Commerce.
(b) A company making less than $20,000/month in chest shop sales
(c) A company with one or more employees (not including the owner).
(d) A company with a balance under $50,000
(e) A company which operates chest shops for the majority of their income

6 - Enforcement
(1) Players may submit a complaint to the Department of Commerce if a business is breaching any of the laws mentioned in this Act.
(2) Companies charged with violations retain the right to seek legal action.
(3) The Department of Commerce may issue fines for violations under Sections 5(1a) and 5(1b), notwithstanding the court order.
(4) The Department of Commerce shall inform and provide necessary assistance to the Department of Legal Affairs for prosecutions under Section 7(1d).
(5) The Department of Commerce shall retain a record of any investigations.

7 - Company Punishments
(1) Businesses that do not comply with the regulations mentioned within this act are subjected to the following punishments:
(a) First Offence: Verbal Warning and one week's notice
(b) Second Offence: $500 fine
(c) Third Offence: $1000 fine + Amount unpaid to suppliers
(d) Greater than 3 offense: The Court may fine up to $5,000 + Amount unpaid to suppliers
(2) Fines issued will be paid to the employee for damages and the amount unpaid to suppliers.
(3) Businesses must compensate for every unit or stack they fail to pay the supplier.

8 - Non-Profits
(1) When registering a company, the person filing the registration may note that the company is a non-profit organization, making it subject to more rigorous regulations but providing more extensive benefits.
(2) Non-profit organizations may not distribute or sell shares of stock in private or within a stock/securities exchange.
(3) The owner of a non-profit organization may not be paid to increase their personal balance above $10,000. If a company fails to comply, the Department of Commerce reserves the right to deregister the company or revoke its tax exemption.
(4) Non-profit organizations may apply for “Operation Grants” on the forums, which shall be capped at $10,000 monthly.
(a) To be eligible, a non-profit organization must provide evidence to support that they improve the lives of at least ten people with a balance of less than $10,000 who do not work for the non-profit.
(5) Registered for-profit companies and individuals may apply for “Charitable Rebates” on the forums in which the Government will refund 50% of the cost of monetary donations made to registered non-profit organizations, capped at $100,000 per month per individual or company.
(a) Rebate(s) will be denied in the event that the donor also owns or is owned by the owner of the non-profit that is receiving the donation.
(b) Reimbursements made to companies owned by the same individual will all count towards the same rebate cap. Even if an individual owns two separate companies, the two companies may only be entitled to at most $100,000 of rebates per month combined.

9 - Stock Repossession
(1) If an individual/entity is inactive for more than three months, companies can reclaim their stocks by purchasing back all shares owned by them.
(a) If a player becomes active or is unbanned, they may buy back their assets.
(2) This is recorded by the company informing the Department of Commerce of the share repossession, including the individual/entity's username, playtime information, and number of shares

10 - Deported Player Assets
(1) Financial Assets:
(a) All money/funds remaining in a Perm-Deported/Exiled player's balance will be transferred to the government balance via a prune by the Department of Commerce.
(2) Property/Plots:
(a) All buildings/structures on Perm-Deported/Exiled player's plots will be vaulted, and the empty property will be put up for public auction.
(b) Empty plots owned by the Perm-Deported/Exiled player will be automatically put up for public auction.
(c) Plots with Structures of Historical significance are to be put up to public auction with the build, and all historical structure rules will apply to the new plot owner.

11 - Defining Key Terms
(1) Amount unpaid to suppliers:
(a) The amount of money the supplier should have received for their work that the business did not pay.
(2) Supplier:
(a) Sell goods to a business, corporation, or individual to supply them with merchandise or ‘stock.’

 

[LilDigiVert]

Presidential Assent

This bill has been granted assent and is hereby signed into law.