SB 113-40: Limiting Landlord Monopoly Act (Passed)

[Mr. Reactionary]

Limiting Landlord Monopoly Act

Title I: Defining The Law

a.Every Three Months, Landlords will report to the IRS about their income and money spent on repairs.

b. The Profit will be the Money gained from Tenants minus the money spent on repairs.

c. Any Money gained above $75,000 will be subject to a 10% tax increasing by 10% per $25,000 gained in profit above $75,000.

d. This Tax will be a Progressive Tax

Title II: What to do in case of Fraud

a. Should it come to the attention of the IRS that you have been misrepresenting how much money you are making, the punishments will be as follows:

- A Fine to consist of the misrepresented Money

- A Prison Sentence not to exceed 10 years

- Automatic Audits on your Income for the next 10 years

Title III: What the Tax is to be used for:

a. The Landlord Tax will be used to build Public Housing for Homeless People and to help them become productive members of Society again

Title IV: When this law will take Effect:

a. This law will take effect on May 1st 2023

Sponsor: Classic Liminal
Debate on this bill is now open.

[Mr. Reactionary]

This imposes quarterly reporting requirements for landlord income and taxes the largest landlords to fund public housing.

[Mr. Reactionary]

Not sure how I feel about another tax, but I feel that there definitely needs to be more limits on how much land a single entity can own.

I agree.

Last session we started by passing this:

...

8. It shall be considered an illegal antitrust violation for any foreign country or any investment firm or financial management service, other than a financial institution, to own or hold an ownership stake exceeding 10% in more than 50,000 residential rental properties or in more than 50,000 acres of commercial farmland. The Attorney General may prosecute such violations which shall be punishable by a fine of $10,000.00 per day. A court of competent jurisdiction shall also order any appropriate equitable relief, including but not limited to the divestment of residential rental properties or commercial farmland exceeding the cap.

I plan on voting for this bill too.

[Mr. Reactionary]

I move for a final vote. 24 hours to object.

[Mr. Reactionary]

Motion passes. I will open the final vote tomorrow or Saturday for the next vote a rama.

[Mr. Reactionary]

A final vote is now open on this bill lasting until Wednesday Eastern at noon (102 Hours) or until everyone has voted, whichever occurs soonest. Please Vote Aye, Nay, or Abstain.

Limiting Landlord Monopoly Act

Title I: Defining The Law

a.Every Three Months, Landlords will report to the IRS about their income and money spent on repairs.

b. The Profit will be the Money gained from Tenants minus the money spent on repairs.

c. Any Money gained above $75,000 will be subject to a 10% tax increasing by 10% per $25,000 gained in profit above $75,000.

d. This Tax will be a Progressive Tax

Title II: What to do in case of Fraud

a. Should it come to the attention of the IRS that you have been misrepresenting how much money you are making, the punishments will be as follows:

- A Fine to consist of the misrepresented Money

- A Prison Sentence not to exceed 10 years

- Automatic Audits on your Income for the next 10 years

Title III: What the Tax is to be used for:

a. The Landlord Tax will be used to build Public Housing for Homeless People and to help them become productive members of Society again

Title IV: When this law will take Effect:

a. This law will take effect on May 1st 2023

[Mr. Reactionary]

Aye

[Mr. Reactionary]

Bill passes 9-0-5-4

[Mr. Reactionary]

Limiting Landlord Monopoly Act

Title I: Defining The Law

a.Every Three Months, Landlords will report to the IRS about their income and money spent on repairs.

b. The Profit will be the Money gained from Tenants minus the money spent on repairs.

c. Any Money gained above $75,000 will be subject to a 10% tax increasing by 10% per $25,000 gained in profit above $75,000.

d. This Tax will be a Progressive Tax

Title II: What to do in case of Fraud

a. Should it come to the attention of the IRS that you have been misrepresenting how much money you are making, the punishments will be as follows:

- A Fine to consist of the misrepresented Money

- A Prison Sentence not to exceed 10 years

- Automatic Audits on your Income for the next 10 years

Title III: What the Tax is to be used for:

a. The Landlord Tax will be used to build Public Housing for Homeless People and to help them become productive members of Society again

Title IV: When this law will take Effect:

a. This law will take effect on May 1st 2023

Passed 9-0-5-4 in the Atlasian Senate assembled.

- R, PPT