Act of Congress Taxation Act

Presidential Assent


This bill has received Presidential assent and is hereby signed into law.

Reason: This Bill introduces an Eviction Tax on plots publicly auctioned by the Department of Construction and Transportation, at a rate of 15% of revenue generated through auction.

Prior to this bill, 100% of proceeds were going to evicted plot holders. This proposed tax provides Government with necessary revenue during a time where it is facing demanding budgetary pressures, from players who are generally evicted due to inactivity. It also acknowledges the economic reality of overhead costs associated with the Department of Construction and Transportation auctioning plots.

Technofied

 

CONGRESS OF THE
COMMONWEALTH OF REDMONT
​




A BILL TO

INCREASE GOVERNMENT REVENUE THROUGH FAIR AND PROGRESSIVE PROPERTY TAXES




​


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:


​
PART I — PRELIMINARIES

1. Short Title and Enactment

(1) This Act may be cited as the ‘Property Tax Adjustment and Increase Amendment Act’

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

(3) This Act has been authored by Speaker TrueDarklander, using President Technofied's Property Tax Formula.

(4) This Act has been co-sponsored by Representative NovaKerbal.

(5) This Act amends the following acts:

(a) Taxation Act


2. Reasons and Intent

(1) Increasing Tax Revenue with a more aggressive tax formula.

(2) Keeping Taxation fair and progressive.



PART II — AMENDMENTS

3. Amendments to the Taxation Act

(1) Part II, Section 13 of the Taxation Act is to be amended as follows:

13 - Property Tax
(1) Where x is the amount of plots a player owns, and y is the amount taxed per day, property taxes shall be calculated as follows: y = 2.5(x^2)-6x
2.7(x - 2) + 2.87(x - 2)^2 + 0.0462(x - 2)^3
(2) Players shall not be taxed for property tax if they own 32 or fewer plots.

Number of PlotsTaxation Rate ($ per day)Amount per week ($)
000
10.000.00
20.000.00
35.60 39.20
417.08 119.56
534.61 242.27
658.32 408.24
788.38 618.66
8124.92 874.44
9168.10 1176.70
10218.08 1526.56
11275.00 1925.00
12339.00 2373.00
13410.25 2871.75
14488.88 3422.16
15575.05 4025.35
16668.92 4682.44
17770.62 5394.34
18880.32 6162.24
19998.16 6987.12
201124.28 7869.96
211258.84 8811.88
221402.00 9814.00
231553.90 10877.30
241714.68 12002.76
251884.50 13191.50
262063.52 14444.64
272251.88 15763.16
282449.72 17148.04
292657.20 18600.40
302874.48 20121.36
Continues...


Number of PlotsTaxation Rate ($ per day)Amount per week ($)
100
200
300
416112
532.50227.50
654378
780.50563.50
8112784
9148.501039.50
101901330
11236.501655.50
122882016
13344.502411.50
144062842
15472.503307.50
165443808
17620.504343.50
187024914
19788.505519.50
208806160
21976.506835.5
2210787546
231184.508291.50
2412969072
251412.509887.50
26153410738
271660.5011623.50
28179212544
291928.5013499.50
30207014490
 

CONGRESS OF THE
COMMONWEALTH OF REDMONT
​




A BILL TO

Let the DoC share with the Reserve


​


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 ‘Reserve and Commerce are friends Act’

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

(3) This Act has been authored by AsexualDinosaur.

(4) This Act has been sponsored by Rep Incarnation__.

(5) This Act has been co-sponsored by Rep RaiTheGuy07.

(6) This Act amends the following acts:

(a) Taxation Act

2. Reasons and Intent

(1) The FRB takes the same or similar information that the DoC does when banks file their monthly reports, we should permit the DoC to share information the FRB requires.

(2) The intent is to reduce the administrative efforts of both the FRB and Financial Institutions to file reports - Which are largely the same information anyway.

(3) Technically the data given to the FRB doesn’t have the same commercial-in-confidence protections that the data given to the DoC does.

3. Amendments

§ 10 of the Taxation Act shall be amended as follows:
10 - Financial Institution Rights
(1) Information shared with regulatory bodies must satisfy a 'need-to-know' principle. For example:
(a) The Department of Commerce does not always need to know the identity of account holders.
(b) The Department of Commerce needs to have a reasonable justification for accessing the data it is requesting (this justification does not have to be shared with the Financial Institution).
(2) The Department of Commerce can only compel a Financial Institution to produce information in the course of its official duties.
(3) The Department of Commerce and Federal Reserve 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.
(a) Data shared with the Department of Commerce may also be shared with the Federal Reserve.
 

Presidential Assent


This bill has been passed into law. As per Section 24(3) of the Constitution of the Commonwealth of Redmont.

Reason: This Bill is assumed to have been given assent, as per Section 24(3) of the Constitution.

The President has the authority to assent to or veto legislation passed by Congress within 14 days before assent is assumed and the bill passes into law.

 

Presidential Assent


This bill has received Presidential assent and is hereby signed into law.

Reason: This Bill increases the already existing progressive property tax according to a formula I derived a few weeks ago, with the intent to increase Government revenue in light of increasing budgetary pressure.

Below is the original briefing post I made on Discord, when I initially introduced this formula to the public.

:president: :Vbar: **PRESS RELEASE** :Vbar: :president:

*A message from President James Fletcher (Technofied)*

Good evening Redmont,

Following a series of discussions in the public domain (our lovely #politics :ded: ), I have landed on a proposal for region tax.

My proposal aims to keep **2 plots tax free**, while also asking those with **substantial plot holdings to pay a greater share of tax.**

It is a compromise between what Senator @zlost. has bravely put forward, which I believe ramps up the tax burden post 20 plots *too* sharply, and the Senate's first version which was an improvement over the original proposal but **lower than what I am putting forward. ** I believe this is the best of both worlds.

I humbly ask our Senators tonight to consider the proposal I put forward, which will be attached at the end of this Press Release.

Tonight, the Senate has voted in the **affirmative** to reduce the tax burden for the first bracket of balance tax from what was originally proposed. This is a sign of our administration's efforts and our prudent Senators' efforts to improve the bottom line while also being fair on our citizens. To the Senate, I thank you for your relentless dedication to the cause.

To all our Congresspeople and Citizens tonight, I thank you for your ongoing efforts and willingness to discuss and debate. Our passion for Redmont is what makes our country stronger, and we are better off for it.

The debate is far from over, we still need to come together to pass a version of this tax reform that we can all get behind. Make no mistake, we still have work to do beyond this Bill. Resuming printing will be a start to relieve budgetary pressure, but now the work begins to draft a framework that does this responsibly.

By the time I wake up, I expect a dozen different pings and invariably disagreement regarding my proposal and others. That's the beauty of democracy, and I wouldn't have it any other way. 😉

Without further ado, here my proposal below! Revenue is projected based on the frequency distribution provided in my earlier Press Release. I have also attached my proposed weekly tax burden, as well as a graphic prepared by Senator @zlost. comparing the different tax burden curves.

Your sleep deprived President,
**James Fletcher (Technofied)**
President


```
My Proposal:
- 2 plots tax free
- From 3rd plot onward: 2.7(x - 2) + 2.87(x - 2)^2 + 0.0462(x - 2)^3

Total daily revenue: 33748.18
Total weekly revenue: 236237.26

Tax table:
owned_count daily_tax weekly_tax
0 0.00 0.00
1 0.00 0.00
2 0.00 0.00
3 5.60 39.20
4 17.08 119.56
5 34.61 242.27
6 58.32 408.24
7 88.38 618.66
8 124.92 874.44
9 168.10 1176.70
10 218.08 1526.56
11 275.00 1925.00
12 339.00 2373.00
13 410.25 2871.75
14 488.88 3422.16
15 575.05 4025.35
16 668.92 4682.44
17 770.62 5394.34
18 880.32 6162.24
19 998.16 6987.12
20 1124.28 7869.96
21 1258.84 8811.88
22 1402.00 9814.00
23 1553.90 10877.30
24 1714.68 12002.76
25 1884.50 13191.50
26 2063.52 14444.64
27 2251.88 15763.16
28 2449.72 17148.04
29 2657.20 18600.40
30 2874.48 20121.36
```
-# P.S. I am exhausted. I apologise for grammar deficiencies. I need sleep! :ded: Good night!!
Click to expand...

Attached are the projections for this tax change and how it stacks up against other proposed property tax formulas.

Technofied

 

Attachments

  • propoesd_property_tax_weekly_burden.png
    propoesd_property_tax_weekly_burden.png
    59.4 KB · Views: 12
  • zlost_property_tax_comparison.png
    zlost_property_tax_comparison.png
    206.5 KB · Views: 15

CONGRESS OF THE
COMMONWEALTH OF REDMONT
​




A BILL TO

Expedite the Fluidity of Pruning New Players to Limit Government Debt




​


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:


​
PART I — PRELIMINARIES

1. Short Title and Enactment

(1) This Act may be cited as the ‘New Player Pruning Act’

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

(3) This Act has been authored by Sen Incarnation__.

(4) This Act has been sponsored by Rep Spyders_Crypt.

(5) This Act has been co-sponsored by Sen Incarnation__.

(6) This Act amends the following acts:

(a) Taxation Act

2. Reasons and Intent

(1) Pruning inactive players allows money to go back into circulation, which will also reduce the amount of money the government will need to borrow.

(2) New players who join and leave the server instantly end up taking money out of the gov accounts to sit inactive for 3 months.

(3) If they do return, in order to make up for the inconvenience, we will give them back more than is pruned as a gesture of goodwill to show that we want them to stay in the server.

PART II — AMENDMENTS

1. Amendments to the Taxation Act

(1) The Taxation Act will be amended as follows:

13 - New Player Pruning Exception
(1) 7 Days after a player joins the server, they will have the entirety of their personal balance transferred to the DCGovernment balance if:
(a) They are under 1 hour of playtime.
(b) They have not logged on in the last 24 hours.
(2) Players who get pruned under the New Player Pruning Exemption shall be returned either 200% of the amount pruned or up to the New Player Starting Balance amount, whichever is lower, if they become active once again.
(a) DCGovernment shall be responsible for repaying the citizen these funds.
(3) Pruning Taxation will incur a 0% tax on any returned funds under this Exception.
(4) No notification shall be required for the disbandment of a sole proprietorship where the owner has been pruned under subsection (1).
 

Presidential Assent


This bill has received Presidential assent and is hereby signed into law.

Reason: This Bill allows the Department of Commerce and Federal Reserve Bank to share data between each other, with the same expectation the data is treated as commercial-in-confidence. This allows for better cross-institutional collaboration where duties overlap.

Technofied

 

Presidential Assent


This bill has received Presidential assent and is hereby signed into law.

Reason: This Bill recovers unused balances from new players who do not actively return to the server, reducing the Government’s need to borrow.

To note however, the limit in Section 13(2) approximately equals what a pruned player held, so they recover only what was taken rather than the 200% bonus. The Bill serves a sound fiscal purpose however, and any refinement can be made by Congress in due course.

Technofied

 
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