Bond Clarification Act

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