Bond Clarification Act: Difference between revisions
Created page with "Category: Economic Law Category: Legislation Category: Amendment =Bond Clarification Act= ''To address vagueness in the Government Bond Expansion Act'' ==Section 1: Request and Approval== §1 Government Bonds Expansion Act, Article 1 shall be stricken and shall now read: <div class="toccolours" style="overflow:auto;"> §1. The Senate shall have the authority to authorize and instruct the Department of Treasury to create government bonds after a majority vote..." |
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==Section 2: Bonds== | ==Section 2: Bonds== | ||
§1 Government Bonds Expansion Act, Article 2, | §1 Government Bonds Expansion Act, Article 2, §2 shall be stricken and shall now read the following: | ||
<div class="toccolours" style="overflow:auto;"> | <div class="toccolours" style="overflow:auto;"> | ||
§2 The government must issue a unique document containing the relevant details about the bond and a unique identifying number. | §2 The government must issue a unique document containing the relevant details about the bond and a unique identifying number. | ||
:§2.1 The government shall maintain a record of who owns government bonds as each is a unique piece of property with its unique value and terms. | :§2.1 The government shall maintain a record of who owns government bonds as each is a unique piece of property with its unique value and terms. | ||
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==Section 3: Implementation == | ==Section 3: Implementation == | ||
§1 Upon passage, this act and its amendments shall come immediately into effect | §1 Upon passage, this act and its amendments shall come immediately into effect | ||
Revision as of 08:51, 2 April 2025
Bond Clarification Act
To address vagueness in the Government Bond Expansion Act
Section 1: Request and Approval
§1 Government Bonds Expansion Act, Article 1 shall be stricken and shall now read:
§1. The Senate shall have the authority to authorize and instruct the Department of Treasury to create government bonds after a majority vote as a one-time measure, as part of the passage of a piece of legislation, or as an approved regular issuance.
- §1.1. The President shall have the ability to formally propose the creation of government bonds in the #bill-proposal channel as a one-time measure or regular issuance. However, the President cannot authorize government bonds.
§2. The Senate shall have the ability to force the Department of Treasury to repurchase bonds from the public or destroy bonds the government has in its possession.
- §2.1 The Department of Tresary shall have the ability to repurchase bonds from the public or destroy bonds the government has in its possession.
§3. The Senate shall authorize and instruct the Department of Treasury to create a bond for a particular matter or delegate specific bond structuring details to the Treasury
Section 2: Bonds
§1 Government Bonds Expansion Act, Article 2, §2 shall be stricken and shall now read the following:
§2 The government must issue a unique document containing the relevant details about the bond and a unique identifying number.
- §2.1 The government shall maintain a record of who owns government bonds as each is a unique piece of property with its unique value and terms.
Section 3: Implementation
§1 Upon passage, this act and its amendments shall come immediately into effect
