Act of Congress Taxation Act

Presidential Assent

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

 
House Vote: 6-0-0
Senate Vote: 4-0-0
A
BILL
To
Amend the Taxation Act​

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 'Property Buy Back Contradiction Fix Act'.
(2) This Act shall be enacted immediately upon its signage.
(3) This Act has been authored by Representative lcn.
(4) This Act has been co-sponsored by Representative qsdt.

2 - Reasons
(1) To fix a contradiction in the law.
(a) This is already defined in the Property Standards Act.
(b) Property buy back makes more sense to be defined in the Property Standards Act.

3 - Amendment
(1) The Taxation Act shall be amended as follows:

Delete:

15 - Property Buy Back
(1) All Region Buy Back percentages are to be set to 50%
 
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Presidential Assent

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

 

Presidential Assent

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

 
House Vote: 7-0-0
Senate Vote: 5-1-0
A
BILL
To
Amend the Taxation Act​

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 'Taxation Exemption Fix Act'.
(2) This Act shall be enacted immediately upon its signage.
(3) This Act has been authored by Vice President lcn.
(4) This Act has been proposed by Speaker CaseyLeFaye.
(5) This Act has been co-sponsored by Representative tusk2510.

2 - Reasons
(1) This fixes a major loophole in the taxation of financial institutions.
(2) This is not possible to enforce.
(3) To amend the Taxation Act.

3 - Amendment
(1) §6(1.a) of the Taxation Act shall be amended as follows:

"(a) Exemption takes effect from the point of request for exemption to the Department of Commerce.​
(a) Exemption takes effect from the point of acceptance and registration from the Department of Commerce."​
 
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Presidential Assent

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

 
House Vote: 9-1-0
Senate Vote: 4-0-0
A
BILL
To

Amend the Taxation Act​

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 'Pruning Fix Act.'
(2) This Act shall be enacted immediately upon its signage.
(3) This Act has been authored by President UnityMaster.
(4) This Act has been co-sponsored by Rep. Jabolko.

2 - Reasons
(1) Once a player returns after having their balance pruned, the government is likely to have already spent that player’s balance.
(2) This will counteract levying taxes against the hardworking citizens of Redmont.
(3) This will allow more removal of money from the economy.
(4) To amend the Taxation Act.

3 - Amendments
(1) Section 12 of the Taxation Act shall be amended as follows:

“(1) All players who have been inactive for at least 4 3 consecutive months will have the entirety of their personal balance transferred to the DCGovernment balance.​
(2) Upon request, the total of personal funds shall be returned to the citizen if they become active once again.​
(a) The Federal Reserve Bank shall be responsible for repaying the citizen these funds.”​
 
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I would like to change my vote to aye.
 
House Vote: 9-0-0
Senate Vote: 3-0-0
A
BILL
To

Amend the Taxation Act​

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 ‘Tax Calculation Correction Act.'
(2) This Act shall be enacted immediately upon its signage.
(3) This Act has been authored by Representative xSyncx.
(4) This Act has been co-sponsored by Representative .McBrittle419.

2 - Reasons
(1) Tax is not collected as implied by the Taxation Act as the outlined system would require active tracking and logging of every offline player balance.
(2) The implemented system is only dependent on your last login and balance upon logging in. Money you received while offline is treated the same as money you had when you logged off.
(3) This change harmonises the two by amending the Taxation Act to reflect how tax is executed in-game.
(4) If a “formerly inactive” player wishes to avoid being taxed heavily on an incoming payment, they can log in to restart the tax cycle and then request the payment. Alternatively, if it is being deposited or paid forward - it can be managed via Discord.

Amend Section 4 of the Taxation Act
(1) Taxation brackets apply to Corporate and Personal Balance Taxes.
(2) The following brackets amounts are inclusive and shall be taxed at the following rates weekly:

Taxation BracketTaxation Rate (%)
$0.00 to $19,999.990
$20,000.00 to $49,999.991
$50,000.00 to $99,999.991.2
$100,000.00 to $199,999.991.4
$200,000.00+1.8
(3) The net time tax rate is calculated over the time between a player’s log-in and their previous log-in. The player’s Corporate and Personal Balance upon log-in is then subject to this tax rate.
 
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Presidential Assent

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

signature-png.51027


 

Presidential Assent

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

signature-png.51027


 
House: 7-2-1
Senate: 3-1-0

A
BILL
To

Amend the Taxation Act.​

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 'Real Estate Balancing Act' or ‘REBA.
(2) This Act shall be enacted immediately upon its signage.
(3) This Act has been authored by Sen. Vernicia, Rep. Chaos_Canadian.
(4) This Act has been co-sponsored by Sen. Vernicia.

2 - Reasons
(1) Plot hoarding has taken over the city, so a fairer property tax code will help alleviate some of these issues.
(2) This encourages people to use their plots or sell them to people who actually will.

3 - Property Tax Amendment
Section 13 of the Taxation Act is amended as follows:
(1) Property taxes shall be calculated using y=0.25*1.16ˣ+0.3x²+2.5x-25 y=0.25*1.16^(x+4)+0.3(x+4)²+2.5(x+4)-25, where x is the amount of plots a player owns, and y is the amount taxed per day. Taxes will be rounded down to the nearest cent.
(2) Players shall not be taxed for property tax if they own 7 3 or fewer plots.
 
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House: 6-3-0
Senate: 3-1-0

Amend the Taxation Act
​
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 'Balance Tax Reduction Act'.
(2) This Act shall be enacted immediately upon its signage.
(3) This Act has been authored by Rep. Chaos_Canadian and Sen. Vernicia.
(4) This Act has been co-sponsored by Sen. Vernicia.

2 - Purpose
(1) To end the perpetuating wealth inequality.
(2) Stop the unjust enrichment of the Government from the People.
(3) Allow new players to make businesses and thrive as entrepreneurs and consumers, injecting growth into the economy.

3 - Amendment
(1) The Taxation Act shall be amended as follows:

4 - Taxation Brackets
(1) Taxation brackets shall apply to Corporate and Personal Balance Taxes.
(2) The following brackets amounts are inclusive and shall be taxed at the following rates weekly:

Taxation BracketTaxation Rate (%)
$0.00 to $19,999.990
$20,000.00 to $49,999.991
$50,000.00 to $99,999.991.2
$100,000.00 to $199,999.991.4
$200,000.00+1.8

Taxation BracketTaxation Rate (%)
$0.00 to $49,999.990
$50,000 to $99,999.991
$100,000.00 to $199,999.991.2
$200,000.00 to $399,999.991.4
$400,000.00+1.8
 
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Presidential Assent

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

signature.png

 

Presidential Assent

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

signature.png

 
House: 0-0-0
Senate: 5-1-0

A
BILL
To

Amend the Taxation Act​

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 'Commercial Confidence Amendment Act.'
(2) This Act shall be enacted immediately upon its signage.
(3) This Act has been authored by Rep. Kaiserin_ and Commerce Secretary xSyncx.
(4) This Act has been co-sponsored by Sen. JunoAndrist.

2 - Reasons
(1) In the event of seizure, commandeering, or nationalisation of a bank, the Department of Commerce should be able to divulge the reasoning behind the action in detail.

3 - Amendments
(1) Section 10.(3) of the Taxation Act shall be amended as follows:

"(3) The Department of Commerce must treat the data of Financial Institutions as commercial-in-confidence, with the sole exception to this being the usage of strictly necessary data in a public report, and only to the extent required to describe and justify the reasoning behind any regulatory or enforcement action performed by the Department, including those listed in §8 of this Act.
 
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Presidential Assent

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

1950minecrafterSignature.png


Seal_President.png
1950minecrafter
20th President of the Commonwealth of Redmont
Member of the WPR​
 
HOR: 9-1-1
Senate: 2-2-1

A
BILL
To
Amend the Taxation Act​

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 'Reduced Balance Tax Amendment Act'.

(2) This Act shall be enacted immediately upon its signage.

(3) This Act has been authored by Rep. gwiis.

(4) This Act has been co-sponsored by Rep. EATB, Rep smokeyybunnyyy, and Rep. Rubilubi55.

2 - Reasons

(1) The Treasury enjoys a healthy surplus and can afford to reduce taxes.

(2) Banks should be encouraged to provide incentives to depositors other than serving as a means of avoiding balance tax.

3 - Amendments

(1) §4.2 of the 'Taxation Act' shall be amended as follows:

" (2) The following bracket amounts are inclusive and shall be taxed at the following rates weekly:

Taxation BracketTaxation Rate (%)
$0.00 to $49,999.990
$50,000.00 to $99,999.991
$100,000.00 to $199,999.991.2
$200,000.00 - $399,999.991.4
$400,000.00+1.8


Taxation BracketTaxation Rate (%)
$0.00 to $99,999.990
$100,000.00 to $199,999.991
$200,000.00 to $299,999.991.2
$300,000.00 - $499,999.991.4
$500,000.00+1.8
 
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A
BILL
To

Facilitate the Creation of a State-Owned Withdrawal Facility and Ease the Economy After the Financial Collapse​

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 ‘True Economic Redemption Act.'

(2) This Act shall be enacted immediately upon its signage.

(3) This Act has been authored by President Kaiserin_, Secretary Avaneesh2008, and FRB Governor Smokedchief, with inspiration and input from Executive Advisor Smallfries4, Speaker Omegabiebel, xSyncx, Attorney General gribble19, Construction Secretary xEndeavour, and Vice President juniperfig, among others.

(4) This Act has been sponsored by Representative Dogeington.

(5) This Act has been co-sponsored by Senator xSyncx .

2 - Reasons

(1) With the failure of Vanguard & Co, Voyager, and The Exchange, and massive liquidity issues in major banks, depositors and the economy will be left in ruins with the loss of deposits.

(2) To preserve large chunks of the economy which may be at risk due to ongoing economic factors.

(3) To protect depositors due to the succession of collapsing financial institutions in Redmont.

3 - Information About This Act

(1) If the contents of this Act are in dispute with another Act, this Act will prevail to the extent of the discrepancy.

(2) This Act is temporary and will not impact other Acts once it expires.

(3) No part of this Act shall be construed so as to restrict the powers of any institution, neither during the time this Act is in effect nor after it expires – though it may implicitly empower institutions so as to carry out the provisions of this Act.
(a) An institution being empowered or compelled to exercise some authority within this Act does not necessarily insinuate that it does not hold the power to do so ordinarily.

(4) This Act will expire once the Secretary of Commerce and Congress consents to its termination.
(a) Congress may consent to the termination by simple motion of both chambers of Congress.


4 - Definitions

(1) SOWF: State-Owned Withdrawal Facility, as defined in § 5.

(2) FAMC: Financial Asset Management Corporation, as defined in § 6.

(3) DOC: Department of Commerce.

(4) FRB: Federal Reserve Bank.

(5) Nationalisation: The full transfer of a private company to government ownership and operation.

(6) Covered Institution(s): Any Financial Institution that is currently seized, nationalized, or commandeered by the DOC

5 - State Owned Withdrawal Facility

(1) The DOC and FRB will both jointly operate a State-Owned Withdrawal Facility (SOWF), which will be granted a tax-exempt DB account in-game.

(2) Said facility’s goal is to facilitate the withdrawal and payment of deposits owned by banks that are unable to pay them back.

(3) All depositors in covered institutions whose deposits were transferred to the SOWF will receive a part of their deposit proportional to the amount of money gained from the liquidation of the assets transferred to the SOWF from the covered institution.

(4) The Department of Commerce may transfer any amount of unrecovered deposits from covered institutions to be covered by the SOWF.

(5) The DOC is responsible for both the disbursement of funds through the SOWF and for communication with the public regarding the state and progress of the facility.

(6) The FRB is responsible for the minting of funds needed for the SOWF.

(7) Both the DOC and the FRB are responsible for managing the accounting of funds as well as drafting rules of withdrawal.

(8) The SOWF is allowed to decide how much of deposits post-liquidation of assets will be covered by the facility. Deposits not covered by insurance, liquidation or this additional funding will be considered unrecoverable and cannot be pursued by depositors.

(9) Congress may appropriate funds from the monthly budget to help contribute to the SOWF.

(10) The SOWF is empowered to create rules for withdrawing deposits over time. They may create different rules for individuals, business, and financial institutions.
(a) They may also create rules to have early withdrawals, including charging a percentage of the withdrawal as a fee.

(11) The SOWF is empowered to create SOWF Notes for the trading of money stored in deposits in the institution prior to withdrawal.
(a) SOWF Notes will mature at a date to be decided by the SOWF, and may mature at staggered times.
(b) SOWF Notes may be transferred between entities as decided by the SOWF.
(c) The SOWF may charge entities to transfer SOWF Notes to another entity. They may charge an entity to receive or give SOWF Notes to another entity as long as the entity is not an individual.
(d) SOWF Notes shall not be considered legal tender, but they shall be backed by the full faith and credit of the Commonwealth government and accepted as payment by government institutions.
(i) Private companies are not required to accept SOWF Notes as payment, but are encouraged to do so.
(ii) Payments made to government institutions that will be transferred to private entities require the consent of the private entity to be made in SOWF Notes.

(12) The SOWF will be operational until all deposits under its care have been reimbursed and this Act expires.

(13) If there are remaining funds in the SOWF at the time of its dissolution, those funds which are the result of minting will be destroyed, and the remainder will be placed in the government’s balance.

6 - Financial Asset Management Corporation
(1) The DOC will operate a Financial Asset Management Corporation (FAMC), which will be granted a tax-exempt DB account in-game.
(2) The FAMC’s goal is to make sure all secured assets including plots and securities held in trusteeship by seized Financial Institutions are returned to owners with the least disturbance to secured creditors.
(3) The DOC may transfer any secured assets including plots and financial securities held in trusteeship by a seized Financial Institution for safekeeping by the FAMC.
(4) The FAMC is required to take any actions that best support secured creditor’s interests and is allowed to sell contracts regarding secured assets to other financial institutions.
(5) Any profits that the FAMC receives will go towards the SOWF.

7 - Severability
(1) If one section or part of this Act is declared unenforceable or unconstitutional, only the offending section or part shall be void. All other sections or parts will remain in effect.
 
Since the Senate is tied, I’m casting the tiebreaking vote.

I have one major concern with this bill: lowering the balance tax threshold could reduce Treasury revenue at a time when we’re already stretched thin covering the fallout from recent bank failures. And yes, the current 50k cap encourages use of banks and supports the rebuilding of our financial sector.

However, banks right now are primarily used for tax evasion, not economic growth. As soon as players receive balance tax, they dump their excess into bank accounts. Not out of trust in the banks, but out of necessity. We're rewarding avoidance, not encouraging educated participation with the financial sector.

Worse, the banks we’re relying on to hold these funds have proven unstable. It’s not reasonable to ask citizens to entrust everything over 50k to these institutions. If we had functional finance regulation, my viewpoint may be different, but we don't. By raising the balance tax threshold, we shift the balance of power back toward the individual. We give players more freedom to spend, to save, and to engage directly with the economy without relying on financial intermediaries that may not deserve their trust.

I vote AYE.
 
juniperfig said:
Since the Senate is tied, I’m casting the tiebreaking vote.

I have one major concern with this bill: lowering the balance tax threshold could reduce Treasury revenue at a time when we’re already stretched thin covering the fallout from recent bank failures. And yes, the current 50k cap encourages use of banks and supports the rebuilding of our financial sector.

However, banks right now are primarily used for tax evasion, not economic growth. As soon as players receive balance tax, they dump their excess into bank accounts. Not out of trust in the banks, but out of necessity. We're rewarding avoidance, not encouraging educated participation with the financial sector.

Worse, the banks we’re relying on to hold these funds have proven unstable. It’s not reasonable to ask citizens to entrust everything over 50k to these institutions. If we had functional finance regulation, my viewpoint may be different, but we don't. By raising the balance tax threshold, we shift the balance of power back toward the individual. We give players more freedom to spend, to save, and to engage directly with the economy without relying on financial intermediaries that may not deserve their trust.

I vote AYE.
Click to expand...
Haven't read it, but noice text.
 

Presidential Assent


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

cKO6Qoe.png

 

Presidential Assent


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

cKO6Qoe.png

 
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