The Imperial Dominion of the South's Legislature

[Deldem]

Aye

[Associate Justice PiT]

     Alright, it's been 24 hours now.

[Dancing with Myself]

The vote is 2-0, despite not having on remember voting, the act is approved and is ready for the Governor.

[CatoMinor]

Prison Reform Bill of 2010

X JBrase

[Dancing with Myself]

The Put the "free" back in Free Enterprise Bill is up for debate for 24 hours

[Deldem]

A couple of questions on the bill:
1. How strict are the SE regulations as compared to the federal ones?
2. What is the current corporate tax rate?
3. Why do taxes need to be stopped entirely for 6 months? Wouldn't it be better to reduce, rather than totally remove revenue?

I like clause 3, however.

[CatoMinor]

Well I havent found anything on the wiki giving a rate for taxation, just that there is the tax. So it would serve to both set the rate at a low but fair percentage, and give a period without the tax to encourage economic expansion in the region. but if six months seems too long then perhaps section 2 could be changed to either have a shorter period of suspending the tax, or six months of a lower 3-4% rate.

[CatoMinor]

I'll support the tax reduction.  Our law code already seems to be fairly pro-business; I'm not sure if repealing all of the regulation would be good for anybody.  I move we cut that section from the bill.

Well the point of that is to start with a clean slate, it it removes any good, and bad. If necessary the Legislature can create new regulations, which would give you guys something to do. There is still Federal regulations so its not exactly repealing all or maybe even most of them.
 I'm not aiming for pro-business as much as I am pro-Southeast, with less burden we will see new jobs, with more business in the region we will see more competition creating better services and products for lower prices in the region. Just give this bill a chance, if the GM reports that the SE has erupted into chaos and anarchy we will obviously know what not to do next time.

[Southern Senator North Carolina Yankee]

Just, so you know, the honerable Governor and I discussed this idea and I agree with him both for the reason stated to give the legislature something to do and since the SE is such a mess and the wiki out of date, cleaning it up would be easiest from scratch with regards to regulations.

[Dancing with Myself]

Is anyone ready to vote?

[Associate Justice PiT]

     I am fine with voting whenever. I'm interested in whether my colleagues are interested in voting, though; especially Deldem, since he had some questions that he raised.

[Dancing with Myself]

We shall wait for him then.

[Deldem]

Here's where I stand:
1. I think that you guys are probably right on federal restrictions, so I guess I can take that one. I can't imagine the SE has much extra regulation anyways.
2. I do not, however, think, that suspending taxes entirely is a good idea. I don't believe that the growth that would occur would offset the total loss of taxation- we do have to think of our budget somewhat.
3. I'd rather go to some intermediate drop in taxation during that time, with the final rate being lowered either at 6 months or 1 year.
4. In addition to removing taxation on year 1 of businesses, I'd say we could also have a reduced rate in the second year.

[CatoMinor]

Here's where I stand:
1. I think that you guys are probably right on federal restrictions, so I guess I can take that one. I can't imagine the SE has much extra regulation anyways.
2. I do not, however, think, that suspending taxes entirely is a good idea. I don't believe that the growth that would occur would offset the total loss of taxation- we do have to think of our budget somewhat.
3. I'd rather go to some intermediate drop in taxation during that time, with the final rate being lowered either at 6 months or 1 year.
4. In addition to removing taxation on year 1 of businesses, I'd say we could also have a reduced rate in the second year.

That sounds alright with me, I also like you idea of the second year of a reduced rate. Someone just needs to draw up the amendments to the bill.

[Deldem]

How's this look? Note the slight edit on dates to make it exactly 6 months and line it up with the year start, and the addition of lower taxation in year 2 of new businesses:

Put the "free" back in Free Enterprise Bill

1. All non-federal business regulations in the Southeast are hereby repealed.

2. From July 1, 2010 through December 31, 2010 all taxes on corporate income shall be set to 10%. Starting January 1, 2011, the rate at which corporations are taxed shall be set at 8.6%

3. All new businesses in the SE shall not have their income taxed within the first year of starting. In addition, all new businesses in the SE shall have an income tax rate of 5% in their second year of establishment.

[Associate Justice PiT]

     That looks good. I will accept it as friendly if Governor Jbrase agrees (since I introduced it on his behalf, after all).

[CatoMinor]

I think it looks good

[Associate Justice PiT]

     Alright, I will accept it as friendly.

[Associate Justice PiT]

     I think we should go to a final vote now, if there are no objections.

[Deldem]

     I think we should go to a final vote now, if there are no objections.

I'm ready to vote as well.

[Dancing with Myself]

The Vote is open for 24 hours

[Deldem]

Aye.

[Associate Justice PiT]

     Aye

[Dancing with Myself]

The Vote is three ayes to zero nays, the vote passes and is ready for the governor

[CatoMinor]

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X JBrase