Senate Legislation Introduction Thread (New)
PPT Spiral:
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Can We Actually Get to Vote? Act
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Be it resolved,
1. Legislation undergoing a final vote in the National Senate shall receive a full, unperturbed period of 72 hours for members to declare and otherwise amend their vote.
PPT Spiral:
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RETIREE INCOME PROTECTION ACT
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1. Any financial service provider who invests and manages a 401(K) plan hereby possess a fiduciary duty to make investment decisions as a reasonably prudent investor would for the benefit of the beneficiaries of the investments. Accordingly no such officer, agent, or employee shall make investment decisions for a 401(K) plan that prioritize the proprietary funds of the financial service provider or unreasonably increases administrative costs for the fund or investment fees for the financial service provider when such decision is made for a purpose other than benefiting the beneficiaries of the investments.
2. Any 401(K) plan with assets totaling less than $5 Million shall be prohibited from incurring an expense ratio exceeding 1.05% of assets.
3. Any 401(K) plan with assets totaling more than $5 Million but less than $20 Million shall be prohibited from incurring an expense ratio exceeding 0.8% of assets.
4. Any 401(K) plan with assets exceeding $20 Million shall be prohibited from incurring an expense ratio exceeding 0.5% of assets.
5. No financial service provider shall offer a revenue sharing agreement to intermediaries for choosing a fund that exceeds 0.25% of fund management costs.
6. Any 401(K) plan shall annually disclose to all investors in such fund any fee, expense, or administrative cost incurred annually in the management of such fund. This includes but is not limited to any revenue sharing cost.
7. Any employee with an existing 401(K) plan provided by an employer who takes a job with a new employer shall be permitted to transfer the value of the existing equity in the 401(K) plan into a 401(K) plan offered by the new employer with no tax consequence. Employers shall nor charge for such transfer. If the new employer does not offer a 401(K) plan, then the employee may convert the value of the existing equity in the 401(K) plan into a fixed-payment annuity upon retirement with no tax consequence.
8. Any beneficiary shall be entitled to initiate a beneficiary derivative class action lawsuit against any officer, agent, or employee violating this act to seek damages and legal costs.
9. This act shall take effect ninety (90) days from the date of passage.
Mr. Reactionary:
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DRIVING FOR TWO ACT
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1. On any federal highway, bridge, or other road project that utilizes high occupancy vehicle (HOV) lanes, wherein certain lanes are restricted to use by cars transporting two (2) or more persons, or on any HOV lane established as part of a federal control plan for an NAAQS pollutant, pregnant mothers shall be considered to be two (2) or more persons.
2. This act shall take effect immediately.
PPT Spiral:
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Atlasian Referendum Amendment
The following Section is to be incorporated under Article IX of the Fifth Constitution:
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Section 2. National Referendums
1. Certain legislation may be subject to the full authority of the eligible voting populace through federally sanctioned referendums.
2. Federal referendums are to be sanctioned under any of the following methods:
a.) Citizens may submit legislation under the Senate Legislation Introduction Thread with the expressed intent that it be reviewed as a potential referendum. Upon its ascension to the Senate for consideration, voting members must provide at least two-thirds approval for the motion to proceed.
b.) Upon the veto of a bill by the President of the Republic of Atlasia, the Senate has the right to request that the legislation be forwarded to the Atlasian populace in lieu of a veto override. Voting members must provide at least two-thirds approval for the motion to proceed. Once the motion to consider a referendum moves to a vote, a veto override on the particular legislation is no longer possible.
c.) The President of the Republic of Atlasia, in lieu of a declaration in favor or in opposition, may instead defer any passed legislation to the Atlasian people's judgment at personal discretion.
3. Upon the approval of a national vote, the Secretary of Federal Elections is to sponsor and certify said event. A minimum of one week for a campaign period is required to be allotted prior to the referendum. The duration of referendums are not to exceed 72 hours and may be held in concurrence with other, regularly scheduled federal elections.
4. Referendums are to be considered as passed should they receive a majority of votes in favor. Implementation is to occur immediately following certification unless otherwise noted in the text.
Mr. Reactionary:
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KANSAS INVASION SETTLEMENT ACT
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1. The government of Atlasia hereby authorizes the payment of $2 Billion to the Southern Region to compensate the Southern Region, the State of Kansas, and all other Southern residents for all civil damages resulting from the unlawful 2022 invasion of Kansas. Upon acceptance and receipt of the full settlement amount, the Southern Region shall forever release any claims it has against the government of Atlasia for all civil damages resulting from the unlawful 2022 invasion of Kansas.
2. This act shall take effect immediately.
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