SB 115-26 Windfall Tax Act (Final Vote)

[LAKISYLVANIA]

The philosophy I had as PPT was that it was precisely because everyone, including myself, had lives outside of the game that an extra PM or two wouldn't go amiss to keep things running, especially now that the responsibility of keeping the chamber running is spread among – how many Deputies is it again? More than before, I know that. Three? May not be applicable to everyone as a philosophy but there are always ways to make this doable.

Anyway I'll leave the issue here but there should be more debate once Scott has his amendment up.

I don't share your philosophy because it isn't grounded in reality. Sure, i like an active game with debate, but i don't have a magical wand that would suddenly create debate out of nowhere, something that might be easy to say if you haven't been a senator for long.

The only ones who ran the senate were Scott, me and Sirius. UNL hasn't done anything. Reactionary is participating in the boycott. And I feel i did the most as deputy PPT. And if people cannot respect that, well than they must show that they can ran the senate better.

But it seems like people clearly rather don't have me as a PPT at all and have shown it very well in the past days, with now including you as well.

[West_Midlander]

The philosophy I had as PPT was that it was precisely because everyone, including myself, had lives outside of the game that an extra PM or two wouldn't go amiss to keep things running, especially now that the responsibility of keeping the chamber running is spread among – how many Deputies is it again? More than before, I know that. Three? May not be applicable to everyone as a philosophy but there are always ways to make this doable.

Anyway I'll leave the issue here but there should be more debate once Scott has his amendment up.

I don't share your philosophy because it isn't grounded in reality. Sure, i like an active game with debate, but i don't have a magical wand that would suddenly create debate out of nowhere, something that might be easy to say if you haven't been a senator for long.

The only ones who ran the senate were Scott, me and Sirius. UNL hasn't done anything. Reactionary is participating in the boycott. And I feel i did the most as deputy PPT. And if people cannot respect that, well than they must show that they can ran the senate better.

But it seems like people clearly rather don't have me as a PPT at all and have shown it very well in the past days, with now including you as well.

I don't think you should take Cao's comments personally. Furthermore, implying that he is not in touch with how the Congress works ("I don't share your philosophy because it isn't grounded in reality.") is strange given that he was previously a House Speaker. I would also note that you do not need to push for a final vote immediately and if memory serves correctly that is something you attacked Pyro over (pushing for a final vote motion quickly) a few months ago.

[PPT Spiral]

Nay

[Kahane's Grave Is A Gender-Neutral Bathroom]

Aye

[nerd73]

Abstain

[At-Large Senator LouisvilleThunder]

Nay

[Sirius_]

It appears that the PPT has not reopened the vote so the previous votes don't count for anything

[Attorney General, LGC Speaker, and Former PPT Dwarven Dragon]

If there is a vote open on this, Nay
If not, I'll be voting Nay again when there is

[The world will shine with light in our nightmare]

Sorry, I could have sworn I had already posted the amendment. I believe I closed the window by mistake.

AN ACT
To tax excess oil company profits

Be it enacted by the Senate of the Republic of Atlasia assembled

Section 1. Title

This legislation may be cited as the Windfall Tax Act.

Section 2. Purpose and Definitions

1. Purpose: The purpose of this act is to regulate and tax speculative trading activities in the oil market to ensure stability, discourage excessive speculation, and generate revenue for public purposes.

2. Definitions:
a) Speculative Oil Trading: Refers to the buying and selling of oil futures contracts or other derivatives with the primary intention of profiting from price fluctuations rather than for legitimate hedging or commercial purposes.
b) Speculator: An individual or entity engaging in speculative oil trading activities as defined in 1.2 (a).
c) Oil: Includes crude oil, petroleum products, and any other energy commodities subject to futures trading.

Section 3. Imposition of Speculative Oil Trading Tax

1. Speculative Oil Trading Tax: A tax of 30% shall be levied on speculative oil futures contracts carried out within the jurisdiction of this legislation.

2. Collection and Administration: The tax shall be collected by the relevant regulatory authority responsible for overseeing oil trading markets, in accordance with the procedures established by such authority.

3. Reporting Requirements: Speculators engaging in speculative oil trading shall be required to submit regular quarterly reports detailing their trading activities, including transaction values, to the regulatory authority for tax assessment and verification purposes.

Section 4. Utilization of Tax Revenues

1. Allocation: The revenues generated from the speculative oil trading tax shall be utilized for the following purposes:
a) Funding programs promoting energy conservation, renewable energy development, and research in clean energy technologies.
b) Supporting initiatives to mitigate the impact of oil price volatility on vulnerable populations and sectors of the economy.
c) Enhancing regulatory oversight and enforcement capabilities related to oil trading activities.
d) Investing in infrastructure projects that facilitate the diversification of the energy sector and reduce dependency on fossil fuels.

Section 5. Regulatory Authority and Enforcement
1. Regulatory Authority: The competent regulatory authority responsible for overseeing oil trading markets shall be designated by the appropriate government body and granted the power to administer, enforce, and interpret this legislation.

2. Enforcement Measures: The regulatory authority shall have the authority to impose penalties, fines, or other appropriate measures for non-compliance with the provisions of this act, including tax evasion, false reporting, or any other attempts to circumvent the speculative oil trading tax.

This legislation was written with the assistance of ChatGPT.

Senators have 24 hours to object to the amendment.

[The world will shine with light in our nightmare]

Hearing no objection, the amendment is adopted. Debate resumes.

[Lumine]

I motion to assume sponsorship, if possible.

[Sirius_]

I motion to assume sponsorship, if possible.

24 hours to object

[West_Midlander]

In accordance with the Senate rules the bill should be automatically tabled however I will not object to a motion to suspend the rules here, allowing it to stay on the floor.

[Joseph Cao]

Assuming Lumine has sponsorship now, but motion to assume co-sponsorship in view of his impending departure so this doesn't get stuck again.

[West_Midlander]

In accordance with the Senate rules the bill should be automatically tabled however I will not object to a motion to suspend the rules here, allowing it to stay on the floor.

AFAIK only the PPT can motion to waive the rules in any particular case. We should not ignore the rules even if we choose to waive them in this case. This and my other posts, FTR, refer to the rule about sponsorless bills being tabled (after Scott left the Senate for >36 hours). In each case, afaik, more than 36 hours elapsed before Lumine motioned for sponsorship.

[Sirius_]

Well since the person who wanted to sponsor this won't be returning next session, I am tabling this in accordance with the senate rules. This can reintroduced if there is still interest in it.