SB 115-29 The Land Act (Final Vote)

[LAKISYLVANIA]

The Land Act

An act to implement land value taxation

I. Federal Land Value Tax

1. For each fiscal year, a tax shall be levied on the value of all land held by private individuals and entities. The appraised value of land shall be taxed at a rate of 1% for the first $1,000,000 and 2% for all value above $1,000,000.
2. Land held by non-profit non-governmental organizations shall be exempt from this tax.
3. The market value of land shall be fairly appraised by the Internal Revenue Service every five years. The IRS may stagger appraisal dates by region.

II. Other Tax Adjustments

1. The federal government, nor any region or state, shall not pass any law which restricts the ability of lower levels of government to levy a tax on the value of land. All such laws which currently exist shall be voided.
2. The rate of corporate tax shall be reduced to 23%.
3. The lowest five income tax brackets shall be reduced by 1%.

III. Timing

1. This act shall take effect at the start of the next fiscal year.
2. The IRS shall begin appraising the value of land immediately after the passage of this act.

Sponsor: Sirius

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I do believe that the RAILS act was supposed to come to the floor before this one

It has come to the floor? We just passed it.

[LAKISYLVANIA]

I do believe that the RAILS act was supposed to come to the floor before this one

It has come to the floor? We just passed it.

The Rail Fails act and the RAILS act are two different things.

Yea sorry about that, i'll introduce it, there's 2 or 3 slots available (and given few people have sponsored something, it's mostly the same persons over & over again, i'll introduce it now).

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Motioning for a final vote. 24 hours to object.

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A final vote is now open. Senators, please vote Aye, Nay, or Abstain.

[LAKISYLVANIA]

Aye