Legislation:SBR/P002-002/Original text

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Enactment clause, short and long titles

Be it enacted by the Grand Forum of All Citizens, as follows—

Proposition 002-002, Treasury Act 2020

An Act to establish a Magistracy for the Treasury, its relevant junior Offices, and to provide a means for the taxation, storage, and spending of government funds.

Chapter I: On the Magistracy for the Treasury

Section A: Establishment of the Magistracy

  1. There is to be a Magistracy for the Treasury (‘the Magistracy’).
  2. The Magistracy is to be led by a Treasurial Magistrate, elected by the Grand Forum.
  3. The Magistracy is mandated to manage the following areas of policy:
    1. To manage the monies of Our Serene Republic;
    2. To manage the shares and assets owned by Our Serene Republic;
    3. To collect monies owed to Our Serene Republic.
  4. The Treasurial Magistrate may appoint a Deputy Treasurial Magistrate.

Section B: Establishment of the Treasury

  1. Within the Magistracy there is to be an Undermagistracy known as the Treasury.
  2. The Treasury is to be led by a Treasurer, appointed by the Treasurial Magistrate.
  3. The Treasury is mandated to carry out the following:
    1. To store the monies of Our Serene Republic;
    2. To hold the shares and assets of Our Serene Republic;
    3. To borrow monies on behalf of Our Serene Republic;
    4. To ensure that all incomes, loans, and expenditures of Our Serene Republic occur only with the consent of the Grand Forum, and that all incomes, loans, and expenditures mandated by the Grand Forum do occur;
    5. To ensure that the financial affairs of the Treasury and so Our Serene Republic are transparent to the public.
  4. The Treasurer may appoint a Deputy Treasurer.

Section C: Establishment of the Inland Revenue Service

  1. Within the Magistracy there is to be an Undermagistracy known as the Inland Revenue Service.
  2. The Inland Revenue Service is to be led by an Undermagistrate for Inland Revenue.
  3. The Inland Revenue Service is mandated to carry out the following:
    1. To collect monies owed to the Treasury;
    2. To ensure that all monies collected are delivered safely to the Treasury.
  4. The Undermagistrate for Inland Revenue may appoint a Deputy Undermagistrate for Inland Revenue.

Chapter II: On the Expenditures of Our Serene Republic

Section A: Establishment of funds

  1. The Treasury is to be divided into a series of funds, acting as separate current accounts within the Treasury.
  2. There is to be a Grand General Fund, through which the majority of governmental financial activity will occur.

Section B: Appropriations from the Treasury

  1. The Grand Forum may mandate the transfer of Treasury monies by the use of an Act of Appropriation (‘appropriation’).
  2. An appropriation may transfer monies from a fund as either a one-time allocation, a monthly allocation, or an allocation per annum. The appropriation may or may not include an end to the allocations.
  3. Monies may either be appropriated as a specific amount of monies or a percentage of the monies of the fund. Percentages may not be allocated as a one-time allocation.
  4. If a proposed appropriation requires more money than is available in the fund, and does not mandate any borrowing into said fund, then the Rector should deem the Proposition inactionable. Likewise, if a Proposition mandates borrowing that the Rector finds unachievable, then they should deem it inactionable.
  5. After eleven Calendar Months of an appropriation, and every twelve after that, the Treasurial Magistrate may review the state of the funds and decide to cancel the allocation, ending the appropriation’s mandate in the next Calendar Month. Should the Treasurial Magistrate choose to end the appropriation, then the Grand Forum may pass a motion to continue the appropriation, overriding the decision. The period for review and decision is to last one week.
  6. Alternatively, any Proposition mandating that the government carry out a certain action may simply name a fund from which the monies required are to be drawn from, provided that this fund is not the Grand General Fund. If the Proposition does not include a realistic estimate of the costs, or does not meet the criteria set out in II.B.4, then the Rector should deem it inactionable.

Chapter III: On the Incomes of Our Serene Republic

Section A: Taxation

  1. A ‘tax’ or ‘taxation’ refers to a specified amount of money required to be paid into the Treasury by Beaconite persons and corporations, to be collected by the Inland Revenue Service.
  2. The Grand Forum may establish a tax with an Act that specifies the persons liable to pay the tax, the amount owed or method of determining such, and the fund into which the tax will be paid into.

Section B: Fines

  1. A ‘fine’ refers to an amount of money specified by a Justicial Council required to be paid into the Treasury by a person or corporation found guilty of an offence. A fine may also require reparations paid to any parties damaged or owed compensation following the offence, rather than into the Treasury.
  2. A fine is to be paid to the relevant Justicial Council, which is to transfer the money owed to the Treasury to the Inland Revenue Service, and then the reparations to the relevant parties.

Chapter IV: Final Provisions

Section A: The Administration Tax

  1. There is to be a tax known as the Administration Tax, paid into the Grand General Fund.
  2. A person is liable to pay this tax if:
    1. They choose to pay it, voluntarily.
  3. The amount a person owes is:
    1. To be determined by the person themself.
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